Chiswick Park offers a wide choice contemporary office space within an expansive landscaped environment and was purchased by Blackstone for £480m in 2011. The US private equity firm is now reported to have received an offer of nearly £800m from CIC.
If the deal procedes, it will become only the second major UK acquisition by CIC. So far, the £245m purchase of Deutsche Bank’s City HQ has been its largest investment.
By contrast the state-owned investment funds of Singapore, Malaysia and Qatar have been very active in the UK property market.
By offering a combination of high quality space and excellent transport links, the 32-acre West London Business Centre has attracted top quality tenants from the media and energy sectors. Uniquely for an inner London office development, there is ample parking as well as direct access to the M4 motorway and the North Circular Road (A406). Furthermore, staff and visitors have a choice of two nearby train stations: Gunnersbury (District Line and London Overground) Chiswick Park (Piccadilly and District Lines). Together they provide direct connections to central London and Heathrow Airport.
Pepsi, QVC, Swarovski and Tullow Oil are among the firms that have been seen the value of moving to the Chiswick Business Centre. With headline office rents at £45 / sq ft, business space at Chiswick Park is almost 20% lower than the City level and well below the rents of Mayfair.