Brunswick Real Estate UK (now Brunswick Property Partners) has acquired Power Road Studios, a multi-let office campus in Chiswick, west London, from Helical plc for £41.58 million, reflecting a net initial yield of 4.8%.

Originally built in the 1930s as a Singer sewing machine factory, Power Road Studios provides 57,164 sq ft of innovative workspace set over four distinctive studio buildings. It is currently 84% let to a diverse range of occupiers, generating a contracted rent of £2.15 million per annum.

The site was acquired by Helical in 2015, which undertook a rolling refurbishment of the property, including the development of a new main entrance as well as improvements to the communal areas.

Planning permission has been granted for the construction of a new standalone 30,000 sq ft building, along with a 13,000 sq ft roof extension to Studio 1 and an occupiers’ amenity block to provide additional bicycle storage, pilates studio and changing facilities.

Brunswick Real Estate UK was advised by Michael Elliott and Helical was advised by TT&G Partners.

Will Amies, Founding Partner of Brunswick Real Estate UK, said: “This is the third transaction we have completed for our new thematic suburban London, flexible office strategy. Power Road Studios is an excellent addition to the growing portfolio”.