Former 1930s Singer factory in Chiswick sold in £41.58m disposal deal

A campus of office buildings has been sold by a London property developer in a multi-million pound disposal deal.

Helical plc has sold Power Road Studios in Chiswick to a private UK investment manager for £41.58m.

Originally built in the 1930s as a Singer sewing machine factory, Power Road Studios comprises 57,164 sq ft of workspace over four studio buildings.

The building is currently 84 per cent let to a range of occupiers, generating a contracted rent of £2.15m per annum.

Acquired in 2015 by Helical, the site currently has planning permission for construction of a new 30,000 sq ft building, a 13,000 sq ft roof extension to Studio 1 and an occupiers’ amenity block to provide additional bicycle storage and changing facilities.

Tom Anderson, senior investment executive at Helical, commented: “This disposal is in line with our clear strategy of selling non-core assets and realising proceeds which we can recycle into new value add and development opportunities in our core central London markets.”

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