Thackeray Group, the real estate investment, development and asset management company owned by Antony Alberti and Brett Palos, has put the Assembly Rooms office development in Putney on the market at a price of more than £30 million after fully letting it.
Thackeray has appointed Tydus Real Estate and Knight Frank to sell the Assembly Rooms, the first new office development in Putney for over a decade. A price of £30 million would reflect a net initial yield of 4.65 per cent. Designed by Jo Cowen Architects, it provides 26,624 sq ft of office and retail space over basement, ground and three upper floors, a gym and panoramic roof terrace to ensure a healthy work-life balance.
The decision to market follows the letting of the building to Gallaher Limited and NatWest.
Gallaher Limited will move its headquarters from Weybridge, having signed a 10-year lease for the 22,218 sq ft of office space at a rent of £52/sq ft. Gallaher Limited has a turnover in excess of £5.5 billion and is the UK trading company of JTI. NatWest has signed a 15-year lease for a 4,406 sq ft bank on the ground floor and basement.
Antony Alberti, CEO and co-founder of Thackeray Group, said: “The letting of the Assembly Rooms endorses our decision to carry out the first office development in Putney for a decade. It provides a fantastic urban lifestyle working environment with meticulous detail given to materials, integration of technology and energy efficiency.
“We believe the building will be a very attractive investment, given the quality of the tenants and the fact that sustainability and wellness form the core of the design”.
Thackeray was advised by BNP Paribas Real Estate and Frost Meadowcroft in the letting of the development; Gallaher Limited was advised by CBRE.
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