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JD.com buys £147M Hammersmith office scheme for European HQ
The 127,000 sq ft “Systems” building is set to become JD.com’s European headquarters after a redevelopment that increased net internal area by close to 50%.
JD.com has acquired the £147 million Hammersmith office scheme at 43 Brook Green, a redevelopment project being delivered by General Projects, according to Bisnow.
The property, now known as Systems, includes 127,000 sq ft of office space and will be redeveloped into JD.com’s European headquarters. The building dates to the 1930s, was previously EMI’s headquarters in the 1990s, and after refurbishment its net internal area has been increased by close to 50%.
General Projects led the redevelopment on behalf of BlueFive Private Wealth and General Projects sold the site to JD.com. CBRE advised on the transaction, with TPG Angelo Gordon and Beltane Asset Management also appearing in the same deal roundup.
The deal sheet noted that 43 Brook Green was refurbished to support its new HQ use, and highlighted separate transactions in the London market, including Barings buying a multi-let light industrial estate in Harrow for £38.5 million and financing supported by Grosvenor’s UK lending business for another Belgravia headquarters purchase.