Alfa Laval to Change Ownership
Hyundai chooses not to develop flagship Brentford dealership
Hyundai Motor (UK) has pulled the plug on plans to develop its flagship dealership in Brentford adjacent to the M4.
It said it had axed the development to focus on “the improvement of business efficiencies ensuring sustainable growth for the future.”
Avison Young and TT&G Partners are to sell the freehold interest in Hyundai’s landmark Alfa Laval Tower for an estimated £20m.
Hyundai Motor UK originally signed an agreement in 2012 with Carlton Properties to occupy a five storey car dealership with offices on the Alfa Laval site.
Alfa-Laval moved out to Camberley about 1996 and the tower has been empty since then used only for giant advertising hoardings.
In a statement Hyundai said: “Hyundai Motor UK has decided not to build its flagship showroom on the Great West Road, London and to sell the site.
“The decision not to proceed with this project has been made in order to focus on the improvement of business efficiencies ensuring sustainable growth for the future
“Hyundai has a network of 163 dealers nationwide with two digital stores and an online purchasing website Click to Buy, so is well positioned in terms of its retail proposition.”
Barney Hillsdon from Avison Young, said: “This is a hugely unique investment and development opportunity in an extremely prominent location in West London.
“The advertising consent provides the opportunity for a long term income stream, coupled with the additional prospects for the building and wider site for a range of potential uses.”
July 1, 2019