Sale price believed to be in the range of £40 million
The Heidelberg building on High Street Brentford
Print company Heidelberg has confirmed that it has sold the site of its Brentford operation.
The company’s German HQ said in a statement that the sale price was "in the mid-double-digit million-euro range", suggesting it could be around £40million. The site, for which it owned the freehold, was valued at £18.1million in its accounts.
The deal with developer Fairview New Homes is due to be finalised in the final quarter of this year.
The redbrick building on the High Street has served as its UK headquarters since 1983 and the company will be relocating customer operations to a new location having wound down its activities at the Brentford site over the past few year. About 60 of the UK operation’s employees will move to the new base which will probably be further to the west.
The 3.2 acre site is adjacent to the Ballymore Brentford Project and the river and a pre-application discussions are already taking place with Hounslow Council about the development of the plot.
Major new development likely on the Heidelberg site
UK managing director Ryan Miles told Printweek, “A lot has changed in the 40-plus years since we’ve been there. At the time it was a very industrial area and very easy for travel. Since then a lot of our London customers have relocated.
“It’s very, very important that we look after our office-based staff, and being slightly further west helps people who travel in. Staff are very excited about going into a new modern space.
“It makes sense operationally and will be far more efficient – our current building is not the most efficient from a green point-of-view.”
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June 29, 2021