Hammersmith's office market buoyed by strong demand

摘要

The Hammersmith office market has had a buoyant 18 months, transforming from a peripheral concern on the Greater London boundary to an extension of the West End market. Confidence in the west London office market has been so strong, on the back of robust occupier demand, that speculative office development is coming through and investors are climbing over each other to get a piece of the pie. Bidding frenzies among funds and overseas investors have seen yields compress to sub-5%, with the most recent buys telling the Hammersmith investment story. Hermes Real Estate swooped on 26-28 Hammersmith Road, paying well in excess of the £118m asking price, which represented a 4.74% yield. Meanwhile, AXA Real Estate Investment Managers acquired 77 Fulham Palace Road for £82m - £13m above asking.