The Ark- O&H Construction
Just a story you might be interested in. O&H construction who sold the Hammersmith embankment development to Akeler and delancey and whom local residents had great difficulties with over the years on the vacant site and same O&H who moved the resident houseboat Arctic away from its moorings have moved back into Hammersmith and purchased The Ark in a joint venture with GE. LONDON, 29 MARCH, 2006 – GE Real Estate UK, in a joint venture with O&H, has acquired the Ark, Hammersmith, West London from Deka for £49.5 million. The Ark comprises 150,000 sqft (13,935 sqm) of office space. It was originally built in 1992 and designed for a single-let tenant. Landid (the development company established last year by Akeler’s former Chief Executive Officer, Trevor Silver and Director, Stephen Morgan) has been appointed Incentivised Development Manager and will be responsible for delivering an extensive refurbishment programme, which will involve reconfiguring certain elements of the building to enable multi-occupation. Alec Burger, Managing Director of GE Real Estate UK, commented: “We have exciting plans to refurbish the Ark. The current layout comprises a tiered floor layout, which is only suitable for a single tenant. We will be looking to create more regular floor plates and deliver an office space that is capable of being multi-let. “This acquisition is in line with our strategy to increase our presence across London and we look forward to working with Landid once again, following the acquisition of the Axis portfolio in January, for £52 million. “The Axis portfolio comprises four office buildings and represented the first joint venture between GE Real Estate and Landid, who provides a wealth of management expertise to every project.” Stephan Morgan of Landid commented: “We are delighted to be working on such a high profile project with GE Real Estate, on what is our second venture together, and with O&H. We are hugely confident that we can unlock value in this inspirational West London landmark and are pleased to have the opportunity to bring The Ark back to life.”
Eamon Corless ● 7014d3 Comments