UK’s second largest new office development supported by hi-spec apartments for the corporate market.
Chiswick’s latest addition to its corporate property portfolio comes courtesy of The Street Group. The development is a 21,991 sq. ft. site called Stile Hall Mansions, sandwiched rather pleasingly between the river (with Kew Gardens just the other side) and Gunnersbury Park. There are two blocks offering a total of 18 two-bed and 14 one-bed apartments for rent by a mix of furnished corporate and private unfurnished appointments.
The development is largely aimed at the corporate market. With the UK’s second largest business development, Chiswick Business Park, sitting nearby and looking to rival Canary Wharf in terms of size and activity this is undoubtedly a sensible strategy. The multi award winning West London hub is thriving and the demand for high-spec corporate residences is running strong as a consequence.
The Street Group was formed in 1935; over the years it has acquired and developed a mixed portfolio of residential & commercial property, now totaling approximately 750 units. The asset value is around £65m and the current group turnover is around £2.7m.
The Street Group, now under new management, are experienced players in this market and the area. It was during the 1970’s and 1980’s that the Street Group built many of the residential blocks and houses which today still form part of the portfolio.
Stile Hall was built in the early 20th century as a purpose-built block to provide 15 three-bed flats. In the 1980’s each flat was converted by The Street Group to provide either 2 one-bed or 2 two-bedroom flats.
The Group has another Chiswick site, on Sutton Court Road, which offers 18 apartments, 85-90% occupied by two corporate clients, Worley Parsons and NIPIneftegas, as well as sizeable developments in Bayswater and Surrey. The latest, in Epsom Surrey, is a £2m acquisition for future transformation into residential units. These require ongoing and regular refurbishment to keep up with the latest specification trends in the corporate market. The Street Group plays to its strengths.
The Street Group launching Stile Hall Mansions, 148 Wellesley Road, Chiswick, W4 3AP, in early May.
For more information about The Street Group:
0208 773 1414
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