SHW has announced that it is to be retained by the new owners of The Colonnades in London’s Bayswater, for property and facilities management.
This follows the property’s sales by TR Property Investment Trust (TR Property) to a private family office, for £33.5m earlier this year.
TR Property, which remains a client of SHW, carried out significant asset management on the property, adding 16,000sq ft of new space through a comprehensive refurbishment in 2015, and doubling the size of the supermarket to 44,000sq 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, said: “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.”
