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Dev Secs secures £50m funding for Hammersmith Grove

Scottish Widows Investment Partnership Property Trust has committed £50 million forward funding to Development Securities mixed use development in Hammersmith Grove.

The money will help get the first phase of the 275,000 sq ft speculative scheme in Hammersmith town centre get off the ground.

The site 1.5 acre site is adjacent to the Hammersmith and City line station and North of the Broadway and is currently being used as a surface car park.

Development Securities has secured planning permission to transform the site with two prime office buildings designed by BFLS.

Under the plans new restaurants and cafes and public open space will also be created.

Construction of phase one, the building located to the South of the site facing onto Lyric Square, will begin on site towards the end of this year with completion targeted for early 2013. 

The building comprises 110,000 sq ft net offices, and 6,000 sq ft of restaurants and cafes.

The company’s major projects have also progressed in the period and grant planning consent for the Hammersmith Grove site has also been achieved.

Works are expected to start on the 275,000 sq ft mixed use site by the second half of 2011.

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