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Avison Young brings 373,000 sq ft Kensington development opportunity to market
August 1, 2022
Avison Young has been appointed by the Department for Digital Culture Media and Sport (DCMS) to undertake the freehold disposal of Blythe House, the former headquarters of the Post Office Savings Bank in West Kensington, Olympia.
Located in the London Borough of Hammersmith and Fulham, the Grade II listed property comprises a total of 372,951 sq ft across five storeys, as well as a further 55,000 sq ft in various outbuildings, and presents a significant redevelopment opportunity, with potential to convert the office space to prime residential and create additional space on the 1.99-hectare site. The building is currently used by the British Museum, The Science Museum and the Victoria & Albert Museum for storage purposes.
This is a unique opportunity to acquire an iconic asset of considerable scale in one of London’s most sought-after areas, benefitting from close proximity to a number of green spaces, an excellent local retail, dining and leisure offer and good connectivity via the London Overground and Underground. The site is set to benefit further from the ongoing redevelopment of Olympia London.
Blythe House will be available for vacant possession in 2024. The deadline for bids is 15 September.
Barney Hillsdon, Principal, Land and Development, Avison Young, said: “This is an exceptional opportunity to acquire and redevelop an iconic Grade II Listed property within central London. The building provides incredible scope to deliver a landmark destination, with huge potential to enhance and maximise the scheme through additional new build development. We have already experienced extremely strong demand for the site and expect a competitive bidding process.“