SENG acquires 200,000 sq ft Hammersmith mixed-use property
London-based real estate investment and development company SENG has acquired 26-28 Hammersmith Grove, a mixed-use property in West London, with the support of a £18.2m acquisition facility from specialist lender ASK Partners.
The 2.3-acre site comprises approximately 200,000 sq ft of office, retail, and leisure accommodation across two wings and a link block, alongside dedicated car parking.
The property – which has been acquired by SENG as part of its wider living sector strategy – is located approximately a two minutes’ walk from Hammersmith Broadway, offering connectivity via the Piccadilly, District, Circle and Hammersmith & City Underground lines.
The acquisition marks a continuation the relationship between ASK and SENG, with ASK having previously provided acquisition finance to the business on other transactions in London.
Elliot Dubey, partner at SENG said: “Hammersmith Grove is an exciting addition to our portfolio and aligns well with our wider living sector strategy. We see considerable long-term potential in the site and look forward to progressing our plans. We have worked with ASK on a number of transactions and value their commercial and flexible approach. Their understanding of our business and ability to move quickly provided the certainty we needed to complete this acquisition.”
Ben Bellman, originator and deal lead at ASK Partners, added: “SENG has a strong track record of identifying assets with the potential to create long-term value, and we are delighted to support them on another acquisition. This is a substantial and low-density site with views across London and a number of alternative use options which fit well with SENG’s wider living sector strategy. The underwrite is strongly supported by the income producing nature of the asset and the transaction demonstrates ASK’s ability to provide flexible acquisition finance for experienced sponsors, particularly where certainty of execution and an understanding of the underlying real estate are critical.”