The Carlyle Group acquire Hammersmith Palais

Today the student housing joint venture between Generation Estates and The Carlyle Group acquired the well known Hammersmith Palais site at 242 Shepherds Bush Road from London & Regional.

Generation had been assisting L&R in designing a suitable student accommodation building and the process to obtain planning consent for a student led mixed use scheme. Previously London & Regional had been pursuing an office led project.

The site is very well located for the proposed use and will be one of very few purpose built student accommodation buildings on the west side of London. In particular the location will be very attractive to students at Imperial College as it is located between their various campuses at South Kensington, Hammersmith Hospital, Charing Cross Hospital and their new campus at Woodlands.

Transport connections from Hammersmith Underground station are excellent providing good connectivity of all of London’s educational establishments as well as direct access to London Heathrow.

The scheme design by make architects will provide 418 single studio units in a high quality new building that also accommodates circa 26,000 square feet of D1 space. The building will be completed for Summer 2013.

Alan Artus a director of Generation Estates said “The Hammersmith acquisition is a very important project for us as we will be one of very few operators with a high quality building in West London in our portfolio and as a result we have tremendous confidence in the occupational prospects here”.

The joint venture with The Carlyle Group now includes four projects providing circa 1773 new bed spaces.