Today we announced the sale of the Shipping Building, a seven-story, 100, 000 sq. ft. office building which is part of The Old Vinyl Factory, our major regeneration project in Hayes, West London. Sold to a fund managed by Moorfield Group, the Shipping Building is a multi-let high quality office building that originally dates back to the 1920s when it served as the former UK headquarters of the international music recording and publishing company, EMI.
The building was fully refurbished in 2002, and when we acquired The Old Vinyl Factory in 2011 we set to work to improve the quality of the space introducing a brand new canteen known as ‘The Vinyl Canteen’, for the building’s main occupiers, SITA.
Since then, we have welcomed the fast-growing home audio company, SONOS and software company, CHAMP Carogosytems to the fold taking the occupancy rate to 95%.
The Old Vinyl Factory is one of our major regeneration projects where we have taken a formerly underperforming, tired business park and are transforming it into a vibrant, mixed-use community that better addresses the need for employment, housing, commercial and office space in Hayes. The development will benefit from the arrival of Crossrail in 2018, located just 200m from Hayes and Harlington station, which will connect with central London in just 16 minutes and Heathrow in 5 minutes.
To read more about The Old Vinyl Factory, click here.