The Garment Building to Be Put Up for Auction
Future of tenants of central Chiswick office space unclear
The Garment Building on Fishers Lane
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February 20, 2023
Businesses based in The Garment Building on Fishers Lane face uncertainty ahead after it was announced that the office development is to be auctioned off.
Around 30% of the tenants are still in the building and they were told by the representatives of the company providing the space that they could stay.
The building is due to be auctioned off on 1 March. The freehold on the warehouse-style building which has full-service office space, which used to be known as the Swan Centre, has a guide price of £7,500,000.
Built in the seventies, there is 17,392 sq ft of space in the complex over ground, first and second floors.
It is being offered for sale on the basis that it offers potential for future development with a variety of uses suggested including residential, student accommodation or medical services. Alternatively, it is proposed that the vacant space in the building could be relet. Currently the building is producing a gross income of around £30,000 a month despite low occupancy.
£2.5million was spent on refurbishing the building in 2017 with more work done the following year.
It has a café for tenants and solar roof panels as well as parking for 24 vehicles on the site which measures a third of an acre.
One local property agent not involved in the sale said, “There may be planning issues if the new owner wanted a purely residential development due to policies on the loss of office space. However, the density of the site could be increased by raising the height as the adjacent medical centre development would be taller. This would allow for a mixed-use development with commercial space on the lower level and flats above.
“Central Chiswick has already lost a lot of office space due to the conversion of lots of units above shops to residential. This ultimately isn’t good for the prosperity of the High Road.”
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