ASK Partners provides £18.2m for Hammersmith site acquisition
SENG, a privately owned property company operating in the London residential market, acquired the asset as part of its wider living sector strategy.
ASK Partners has provided an £18.2m acquisition facility to support SENG’s purchase of 26–28 Hammersmith Grove in West London.
The 2.3-acre mixed-use site comprises approximately 200,000 sq ft of office, retail and leisure accommodation across two principal wings and a link block, alongside car parking.
SENG, a privately owned property company operating in the London residential market, acquired the asset as part of its wider living sector strategy.
The deal continues an existing relationship between ASK Partners and SENG, with the lender having previously provided acquisition finance for other London transactions.
Ben Bellman, originator and deal lead at ASK Partners, said: “SENG has a strong track record of identifying assets with the potential to create long-term value, and we are delighted to support them on another acquisition.
“This is a substantial and low-density site with views across London and a number of alternative use options which fit well with SENG’s wider living sector strategy.
“The underwrite is strongly supported by the income producing nature of the asset and the transaction demonstrates ASK’s ability to provide flexible acquisition finance for experienced sponsors, particularly where certainty of execution and an understanding of the underlying real estate are critical.”
Elliot Dubey, partner at SENG, said: “Hammersmith Grove is an exciting addition to our portfolio and aligns well with our wider living sector strategy.
“We see considerable long-term potential in the site and look forward to progressing our plans.
“We have worked with ASK on a number of transactions and value their commercial and flexible approach. Their understanding of our business and ability to move quickly provided the certainty we needed to complete this acquisition.”
Russell-Cooke acted for SENG on the acquisition financing, while Shepherd and Wedderburn acted for ASK Partners.
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