Commercial Property News

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Tuesday, May 09, 2023

Halladale unveils 74m London office deal

Scottish property investor and developer Halladale has unveiled a 74.1 million deal, marking its biggest ever single acquisition. The firm, which has offices in Edinburgh, Glasgow and London, has bought up 26/28 Hammersmith Grove in London's west end from Dunedin Property.

Halladale will manage the 205,000 square feet office complex, which it bought with co-investment partner Tyburn Lane Private Equity. The deal confirms Halladale's shift in focus from retail to offices, which now make up around 50 per cent of the firm's asset management and development programme, compared to less than ten per cent 18 months ago.

Hammersmith Grove consists of two buildings of office space with 326 car park spaces on a mix of lease lengths with tenants including MWB, Net Decisions, Air New Zealand and Vans.