THE investment arm of Co Tyrone construction group McAleer and Rushe has bought a major office development in West London for an undisclosed sum.
MRP has been confirmed as the buyer for Liberty House in Hammersmith.
The development spans 90,000 sq ft of office space across two buildings on Hammersmith Road, next to the headquarters of Harrods.
Liberty House was sold by the real estate manager Catella APAM on behalf of its Danish client Britannia Invest A/S.
The announcement of the deal comes just weeks after MRP reported a pre-tax profit of £31.8 million for the year ending September 30 2022, on a turnover of £110m.
Angus Monteith, development director at MRP said: “The purchase of 76 and 80 Hammersmith Road is a rare opportunity to reposition a 1.4-acre freehold site in West London, adding to our strong portfolio of development and investment sites in key cities across the UK.
“We are delighted to reach agreement with APAM and Britannia Invest A/S.”
Read more:
- MRP: McAleer & Rushe property investment arm posts £32m pre-tax profit
- McAleer & Rushe set for record year after landing contracts worth £440m in Britain
Meanwhile, the design and build division of McAleer and Rushe has said it is on course for a record year after landing new contracts worth £440m in Britain during the first half of 2023.
The Cookstown-based company said two of the contracts involve residential schemes in central London, worth a combined £228m.
The design and build division recently reported a turnover of £404m for the year ending December 31 2022, producing a pre-tax profit of £12m.
