Chiswick Park investment sale gets New Year off to a flyer
January 11, 2011
The investment sale of Chiswick Park in west London has got the 2011 property market off to a cracking start.
Blackstone is paying £ 480 million for the 1.9 million sq ft office campus that was originally dubbed a ‘mid-urban business park’ and used the innovative Enjoy Work marketing campaign.
The deal breaks back to a net initial yield of 7.5% – which appears a good buy for a high quality investment of this kind and given that London & Stamford (who are astute readers of the market) just missed out.
With rents currently only around £32psf there is room for growth and the added attraction of two undeveloped plots of land.
