Family-owned property firm to acquire Fulham Town Hall for hotel and restaurant scheme
A former town hall building on London’s Fulham Road could be set for a multi-million pound leisure transformation.
Property company Ziser London is buying the Grade II-listed Fulham Town Hall with a £10m loan from challenger bank OakNorth.
Subject to planning, the firm intends to transform the 51,350 sq ft building into a new hotel, restaurants, event space and spa using a separate development finance facility.
Fulham Town Hall was built between 1888 and 1890, with an extension added between 1904 and 1905.
Designed by architect George Edwards, it functioned as a town hall until the boroughs of Hammersmith and Fulham merged in 1965, after which it housed administrative workers and served as a registry office and events space.
Debt advisor and asset manager BBS Capital arranged the loan with OakNorth.
BBS Capital’s Joanne Barnett said: “Our excellent working relationship with OakNorth was key to closing this deal for our client.
“Arranging the finance had the potential to be challenging, because planning permission to transform Fulham Town Hall into a hotel has not yet been granted. However, OakNorth understood the vision and opportunity enabling us to secure funding to support the purchase of the property for our client.”
OakNorth debt finance director Priya Harley commented: “Ziser London has an extensive track record in investing and developing London based residential and commercial properties, in particular ones with architectural significance or a unique heritage.
“Once completed, this site will be a landmark property in London, so we’re delighted to be assisting the team and look forward to working with them on additional projects in the future.”
Property consultancy Knight Frank advised the vendor on the deal.
The head of Knight Frank’s private office, Rory Penn, said: “This landmark sale is the culmination of a carefully targeted marketing campaign initiated by VanHan before being transferred to Knight Frank, the deal reveals the ongoing confidence of private wealth in commercial property investment.”
Knight Frank residential development partner Anthony Kazan commented: “The sale of Fulham Town Hall attracted strong interest from a select group of developers and private investors who were struck by the rarity of the opportunity; its elegant architecture and grand internal volumes offer the potential to create a mixed-use development without precedent in Central London.”
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