London landmark put up for sale by NAMA

London landmark put up for sale by NAMA London landmark put up for sale by NAMA

London’s landmark Gillette Corner has been put on the market by NAMA.
The former site of the European headquarters of Gillette was originally bought in 2005 for £30 million by Donegal developer Jim McGettigan’s Bonnington Group.
Agents for the group, Savills and Mason Owen & Lyons said in a statement this morning that they had brought the site on London’s Great West Road to the market. The site extends to 10.25 acres and includes a main building totalling circa 327,000 sq ft (30,378 sq m) and features a Grade II listed building with prominent landmark clock tower, as well as several storage and warehouse buildings, taking the total existing uses to circa 500,000 sq ft.
Planning permission has previously been granted by Hounslow Council for complete redevelopment of the site, including office, hotel and restaurant use. Bonnington had previously planned to develop a 300-bed four-star hotel and business park at Gillette Corner but in 2011 it ran into difficulties repaying a £67 million loan to AIB.
At the time, Bonnington’s interests also included the Regency and North Star hotels in Dublin ,the Royal Hotel in Bray, the Cavendish Hotel and Bonnington Rooms in London, and Bonnington Jumeirah Lakes Towers in Dubai.

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