Nordea Property Investment UK have sold the former Harper Collins headquarters to AXA Real Estate Investment Managers.
In August 2014 Property Week had announced that AXA was considering making the acquisition of Harper Collins’ former headquarters at 77 Fulham Palace Road. The expected price to be offered was over £80 million. The office developer Bell Hammer has been taken on as development manager for AXA.
As well as playing host to the publishing company Harper Collins, the Hammersmith building also lets its 193,000 sq ft space out to 19 other tenants. It is split into four buildings and has historically proved ideal accommodation for its commercial occupants due to the wide range of office space.
It has been reported that AXA plan to improve on the quality of commercial space available in Hammersmith by extending its space by 18,900 sq ft, turning it into Grade A class space. There will also be a part refurbishment of the building prior to AXA moving in.
The acquisition of the Hammersmith block comes as part of Axa’s value-add investment strategy, focussing on retail, hotel, logistics, office and other real estate assets in the kep European markets.
Huw Stephens, head of UK transactions at AXA, remarked that the company aim to "add value to a core, well located asset in London."
Stephens expressed his belief that AXA "will be able to improve the tenant mix, whilst delivering investment performance to our clients.”
Nordea were advised by JLL and AXA were advised by BNP Paribas Real Estate.