17th Feb 2014 09:56
LONDON (Alliance News) - Development Securities PLC Monday said media firm UKTV has signed a 15-year lease at 10 Hammersmith Grove to occupy the fourth and fifth floors of the building, representing 32,500 square feet of space.
Forward-funded by the SWIP Property Trust for GBP50 million, 10 Hammersmith Grove is the first of two office buildings in the centre of Hammersmith, adjacent to the underground station. It includes 110,000 square feet of office space as well as extensive new public realm and three restaurant units at ground level.
The deal will see UKTV move from its existing offices at 245 Hammersmith Road, just a stones throw away.
Development Securities said occupier demand in Hammersmith is strengthening, yet supply of high quality office buildings, such as 10 Hammersmith Grove, is limited.
"We are delighted that UKTV has decided to relocate its headquarters to 10 Hammersmith Grove and with strong interest in the remainder of the space, we look forward to announcing further lettings in the near-term," Julian Barwick, executive director at Development Securities said in a statement.
The financial terms of the deal where not disclosed.
The stock was trading at 258.17 pence Monday morning, down 9.08 pence or 3.4%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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