Chiswick Park office space bought by Blackstone

Office design news from Morgan Lovell

Published on 22-03-2011

Office space in Chiswick Park has been acquired by Blackstone at a cost of £480 million.

The US private equity firm has exchanged contracts for the business park, according to Property Week, which could see a programme of office refurbishment at the west London site.

This deal sees Blackstone acquire the 1.8 million square feet of office space, one of the largest business sites in the UK.

A series of office refurb projects could be expected to go ahead once Blackstone decide what it wants to do with the location.

The deal was finalised after Blackstone held talks with former owners Schroders and Aberdeen Property in January 2011 for the site and after negotiations the firm has finally shaken hands on the deal.

At the time, head of property at Schroders William Hill revealed little could be said about the plans: "We have signed an exclusivity agreement and that includes confidentiality clauses, therefore I am not able to make any further comment."

Posted by Adrian Norman