The Opportunity

This transaction consisted of the conversion of New Horizons Court, situated in Brentford, to a residential development of 302 apartments ranging from studios to two bedrooms. The original office campus comprised over 140,000 sq ft arranged in four self-contained office blocks, with more than 527 secure underground parking spaces, together with nine courtyard office buildings of 31,000 sq ft which benefit from a further 69 parking spaces.

The apartments are currently in the final stages of construction, with the majority of the units now sold. The building was originally comprised of four self-contained office blocks and nine courtyard office buildings arranged in two terraces. The apartments will be eligible for the ‘Help To Buy’ scheme, with no requirement for an affordable housing element.

The Market

It is located in a pivotal position between the central London and western corridor office markets and benefits from excellent access to both, with central London just nine miles away, Heathrow Airport within 15 minutes and Waterloo Station within 30 minutes.

A number of major employers have their office headquarters in close proximity, including those of BskyB, GlaxoSmithKline, Cable & Wireless, Kraft, General Electric, EMC2, and JC Decaux, thereby enhancing the potential demand for residential units.

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