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Coca Cola to sell its London office in major redevelopment play

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Coca Cola is set to sell its Greater London headquarters as the firm looks to shift its location as part of a major redevelopment play.

The US drinks giant will be moving from its London office next to Hammersmith tube station to CBRE’s former headquarters in the West End.

It has been based at the 80,000 sq ft London offices at 1 Queen Caroline Street in Hammersmith for more than 20 years, but will move into 1a Wimpole Street next year.

The West End address offers 60,604 sq ft of office space for the firm and is set to be its main UK office when it moves into the premises in 2014.

The move to sell its current London office comes shortly after it was confirmed Scottish Widows Investment Partnerships will be selling Coca Cola Europe’s European headquarters, located in Uxbridge, west London, in a deal worth a reported £47.7m.

Although no price has been set on the property at present, it is estimated to pull in as much as £30m due to its location next to Hammersmith tube station and the Hammersmith Grove development – a joint scheme developed by Development Securities and Scottish Widows Investment Partnership

Coca Cola has sold a variety of soft drinks for a number of years, and is set to launch the first ever hot carbonated beverage via the Canada Dry brand; the Hot Ginger Ale is set to hit Japanese vending machines in October at a cost of $1.20.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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