Chiswick Tower Sale Raises Hopes for Gunnersbury Station
Middle Eastern buyer acquires former BSI building
Chiswick Tower on Chiswick High Road. Picture: Google Streetview
December 21, 2023
There are hopes that a much-needed upgrade for Gunnersbury Station may be closer after a sale of Chiswick Tower.
The previous owner, Federated Hermes, had not been willing to get behind proposals for changes to access to the station which would have required use of part of the car park at the site. The American owned investment company preferred to hold the building for its rental yield rather than consider any redevelopment.
According to the property press, the new owner is from the Middle East and, while at this stage its intentions are not known, it has been noted that recent permissions for Holly House by Chiswick Roundabout and Bollo Brook House on Bollo Lane have created a precedent for buildings of up to 25 storeys in the area.
The 19-storey tower on Chiswick High Road was built in 1966 as the headquarters IBM in the UK until 1992. It was then substantially refurbished and occupied by the British Standards Institution in 1995. The 143,000 square foot building was bought by Hermes in March 2013 for £56.5million.
Earlier this year Chiswick Tower was put up for sale as part of a package of three ‘landmark’ buildings including Hammersmith Grove and Wimbledon Bridge House with the W4 building being the smallest. The guide price for all three buildings was £195.2 million.
In the event only Chiswick Tower has been sold with further details about the buyer and the price paid unavailable at this stage.
It has been suggested for some time that the redevelopment of the Chiswick Tower site could be used to increase passenger capacity at Gunnersbury Station. It has become increasingly crowded due to its proximity to Chiswick Business Park and the Brentford Community Stadium. Large scale building in Brentford for which Gunnersbury will be the nearest tube station means that projected use at the station is set to grow and access already has to be restricted at times of particularly heavy use.
The Chiswick Tower development includes the 190-space car park at the rear of the building and any redevelopment could enable a second entrance to be provided to the station as well as providing funds to make it fully accessible.
Local property professionals believe that due to the age of Chiswick Tower and the profile of the buyer, a redevelopment of the site has become much more likely.
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