Savills has been appointed by administrators to market the long leasehold interest of the iconic Riverside Studios arts and entertainment complex in Hammersmith.
The commercial element of the space spans more than 95,000 sq ft and is held on a long lease expiring in 2214 at a peppercorn rent.
Savills was appointed by administrators Richard Lewis, Alistair Wardell and Oliver Haunch of Grant Thornton UK LLP, to market the property which comprises the commercial element of an extensive mixed-use development which was redeveloped before reopening in August 2019.
The property operates as an art centre, and has two anchor tenants: Sam’s Riverside restaurant and Riverside Television Studios Ltd, which hosts a number of UK television productions.
In addition to studio space, the building has two cinema screens, events space, associated rehearsal, dressing rooms and production rooms and office space available for rental.
Paul Breen, director in the licensed leisure team at Savills, said: “The Riverside Studios presents a unique opportunity to acquire a long leasehold property in a highly desirable riverside location in West London. It is a state of the art purpose-built facility with a uniquely central proposition in the arts and culture sector. With the scarcity of this type of opportunity and the incredibly high barriers of entry, we expect there will be significant and diverse demand in the market place from both potential occupiers and investors.”
