Hammersmith, London, W6

This investment comprises a ground floor bank with ancillary office accommodation.

Purchased in April 2015, the entire building was let to Halifax Plc until September 2017.

Our architects drew up a scheme to excavate a basement and improve the retail element, convert the offices to residential, extend the uppers and add a floor.

The scheme was approved in July 2016. The intention was to secure vacant possession and carry out the development at the expiry of the lease.

However, Halifax did not want to lose their presence on the high street and as such we negotiated a new ten year lease at a significantly higher rent. This added considerable value to the building.

Purchase date

April 2015

Purchase price


Cost to date




Investor equity


Current value


Levered IRR


As at 31/12/2019