Knight Frank Investment Management has gone under offer to buy The Assembly London, 77 Fulham Palace Road from AXA IM Alts for around £60 million, CoStar News can reveal.
The complex of three buildings was under offer last year to Patron Capital but that deal is understood to be no longer progressing.
The largest building at The Assembly London is the 135,000-square-foot Foundry, which was redeveloped by AXA IM – Real Assets with development manager Bell Hammer to include 23,000-square-foot floorplates, a squash court, roof terrace and cycle and shower facilities, including foldable bike brand Brompton’s cycle hire scheme.
AXA Investment Managers signed CloserStill Media, the business-to-business events group, for a new headquarters last year as the West London office market finished 2023 with a welcome increase in lettings. CloserStill, advised by CBRE, took 23,500 square feet on the third floor. It is also leased to Spaces on the ground and first floors and Fitflop and others on the part fourth floor.
Assembly London also comprises three other buildings. Smiths Square, Farriers Yards and The Forge, which are leased to a range of tenants. The entire development has over 200,000 square feet of offices.
CBRE is advising AXA IM Alts.
Knight Frank Investment Management declined to comment. AXA IM Alts and CBRE declined to comment.