New office and retail space can impact the property market

A new mixed use scheme could see the 70s Landmark House and Thames Tower buildings demolished and replaced with new towers twice their current height. This would boost the amount of office space and create extra facilities such as a hotel and a bar.

Currently the towers are 14 and 11 storeys tall respectively. Between the properties they offer 17,000 square metres of office space. If the development were to go ahead around 35,000 square metres of additional space would be created, 15,852 square metres of it specifically for offices. The rest would be cultural and new retail spaces.

The project has already undergone public consultation but Hammersmith and Fulham Council is yet to deliver a final decision. A concern is that the new towers could set a precedent and lead to more projects where height and the designs may become negative issues. This comes even though the “elegant proportions” of the current design have been applauded.

A tricky aspect of the project is the triangular site that currently hosts Landmark House and Thames Tower is surrounded by conservation areas. Care must be taken in these cases to ensure the surrounding areas are not negatively affected. If they are this means the project cannot go ahead.

At Finefair projects like the one above are as important as investments that create new homes. The reason is that additional office and retail space can stimulate jobs in an area. This has an impact on the property market, drawing more people looking for homes. In turn this creates fantastic opportunities that we want clients to be able to take advantage of.

Our wide array of services allows us to serve the varied needs of our clients. We are renowned for offering block management in Hammersmith and Fulham. No requirement is too large or too small for us; we can ensure that every property is managed to the highest standards so that the owners get the best rewards.

If you would like to talk to us about your investment ideas or the impact of the creation of new office and retail space in an area please get in touch.