22 July 2024
SHW retains the Property Management contract of The Colonnades, Bayswater
Commercial, Property Management, Residential
In February 2024, TR Property Investment Trust (TR Property) announced the sale of The Colonnades in London’s Bayswater to a private family office, for £33.5 million. SHW are delighted to announce that they are to be retained, by the new owners, for property and facilities management.
TR Property, who remain a valued client of SHW, carried out significant asset management on the property, adding 16,000 sq ft of new space through a comprehensive refurbishment in 2015, and doubling the size of the supermarket to 44,000 sq ft, which was let to Waitrose on a 20-year lease.
The property comprises a large, fully let, mixed-use block, constructed in the 1970s. The site extends to approximately two acres on the northeast corner of the junction of Bishop’s Bridge Road and Porchester Road, close to Bayswater tube station. The freehold of the residential upper parts was sold by TR Property in 2022 for £5m.
James Hadden, a Partner in SHW’s London’s commercial property management department comments “SHW are delighted to be retained to continue to deliver first-class property and facilities management services to the new owners, occupiers of and visitors to this prominent Bayswater retail development. We are already working closely with all stakeholders to achieve this.”
