New tenants for Phoenix Brewery scheme

Posted on by John Cronin

Developers of an old London brewery and former offices of a music publishing company have secured new tenants following a renovation project.

Phoenix BreweryThe Phoenix Brewery (pictured – website) is a multi-let, Grade A office scheme located on Bramley Road within the London Borough of Kensington & Chelsea. The property was formerly known as the Chrysalis Building and was the headquarters of music publishing company Chrysalis.

Cube Real Estate (Cube RE) purchased the building in 2010 and have since undertaken a full refurbishment of the former Victorian warehouse. Having secured several new tenants including BMG Chrysalis, Live Nation Merchandise and Clearpoint Media the scheme is now running at an occupancy rate of 70%. Agreed rental prices have been in the range £26 – £29.50 / sq ft.

The refurbished building offers five floors of contemporary office accommodation, available to let as suites from 1,000 sq ft up to 20,000 sq ft. Approximately 8,000 sq ft of floor space remains available within the 28,000 sq ft building. The building offers offices on both Bramley Road and Freston Road. New tenant Live Nation Merchandise signed for 5,500 sq ft of floor space in July having been advised by commercial advisors Glinsman Weller.

Cube RE purchased the offices in May 2010 for £6.8m, which included an immediate leaseback to Chrysalis Music of four floors, totaling 8,559 sq ft at a rent of £250,000 on a five year lease.

Commenting on the redevelopment, Jonny Lawes of Cube RE said: “The contemporary offices retain the building’s original character which has proved popular with companies seeking an unusual and inspiring space”.

Architects for the scheme were Stiff & Trevillion. Joint marketing agents are Hanover Green and Pilcher Hersham.

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