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London property to be tenanted after five years standing empty

Posted by Marianne
July 9, 2014 in Property Development

An office block in west London is to finally be tenanted after being left empty for a number of years throughout the economic downturn.

Exion House in Brentford was never officially launched onto the commercial market, despite offering A1 office space. Competing against a number of other new builds in the area, it is hoped that a deal signed recently will reinvigorate interest in the building.

A spokesman for the new owners of the building, Berkshire Investment Capital (BIC) said that they were delighted to make the agreement, with rents now rising again in the west of the capital.

However, he said that they are releasing the office for a very competitive £25 per square foot. In the centre of London, rents of around £100/sq ft are commonplace. Closer to Brentford, in Hammersmith, rents of £50 and above are normal.

Now known as the Corner Building, it will first undergo modernisation. The building’s exposed woodwork will be replaced by more modern fittings, such as office partitioning and suspended ceiling systems.

Bike racks and showers will also be installed, in recognition of the growing trend for cycling to work. The spokesman continued to tell local news website Get West London:

“I’m hoping we get a tenant quickly as that will also benefit the local shops in Brentford town centre which is only a few minutes walk away.”

BIC also recognised the comprehensive plans at Hounslow Council, which will improve the section of the Great West Road known as the Golden Mile. It hopes that this will also generate interest from potential new tenants.

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