Offices at 77 Fulham Palace Road Offices Sold for £82 Million

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Current home of publisher Harper Collins will now be expanded and refurbished

The iconic buildings at 77 Fulham Palace Road, just south of Hammersmith Broadway, have been bought by AXA Real Estate Investment Managers for £82 million.

The final sale price is well above the original asking price of £69,500,00 when the property was put up for sale in spring this year.

AXA Real Estate says the property consists of four buildings called Hamlet, Horatio, Ophelia and Elsinore which are currently let to 19 tenants.

The three acre site also has landscaped courtyard areas, underground parking and two squash courts and changing facilities.

The largest of the current tenants is publisher Harper Collins which is reportedly about to move to premises in the "Baby Shard", a smaller tower next to The Shard at London Bridge, where its parent company News Corp has rented space.

Now AXA Real Estate, who bought it from its previous owners Nordea Property Investment, says it has the opportunity to expands its floor space and refurbish some of the buildings, adding to its facilities.

Huw Stephens, Head of UK Transactions, says: " At 77 Fulham Palace Road we have identified an opportunity, through a number of asset management initiatives, to add value to a core, well located asset in London.

" By utilising the expertise of our local asset management teams, we will be able to improve the tenant mix, whilst delivering investment performance to our clients.”

October 31, 2014