Northern Ireland investment and development company MRP purchases major office development in West London

The investment arm of Northern Ireland construction group McAleer and Rushe has bought a major office development in West London for an undisclosed sum.

The privately owned multi-award-winning investment and development company, MRP has been confirmed as the buyer for Liberty House, 76 and 80 Hammersmith Road, London. The two adjacent office buildings comprise a total of c. 90,000 sq ft of office accommodation.

MRP are the developers behind City Square House, the 140,000 sq ft office development in Leeds and The Ewart, a landmark 210,000 sq ft office in Belfast.

Catella APAM (“APAM”), the specialist UK & Ireland real estate asset manager, sold the building on behalf of its Danish client Britannia Invest A/S.

William Grenfell, senior asset manager at APAM, said: “This prime site represents an opportunity to deliver substantial regeneration supported by ongoing development in nearby Kensington Olympia, White City and Earl’s Court. We are delighted to have completed this sale of this asset to MRP on behalf of Britannia Invest A/S.”

Angus Monteith, development director at MRP, added: “The purchase of 76 and 80 Hammersmith Road is a rare opportunity to reposition a 1.4-acre freehold site in West London, adding to our strong portfolio of development and investment sites in key cities across the UK. We are delighted to reach agreement with APAM and Britannia Invest A/S.”

MRP is the property division of McAleer & Rushe which has operated throughout the UK & Ireland for over 50 years. With offices in London, Belfast and Cookstown, the company specialises in the development of high quality buildings within the office, hotel, residential and student accommodation sectors.

The company’s development portfolio has a total end value of c.£1.5bn of which c. £350m is currently under construction, with assets under management valued at £500m and producing an income of over £20m pa.