Crosstree Portfolio: Portal Way - Carphone Warehouse

Portal Way (Carphone Warehouse)

  • Size: 4.5 acres / 152,000 ft²
  • Sector: Office
  • Status: Planning
  • Key Tenants: Dixons Carphone plc

The acquisition of the headquarters of Carphone Warehouse was our first deal outside of central London. Located in Acton, the four and a half acre site has significant redevelopment potential but this is underpinned by the rental income – Carphone will retain its occupancy – that ensures high cashflow with an attractive yield.

The site’s redevelopment potential is linked to the huge infrastructure investment that is pouring into the area. As well as excellent existing transport links, Crossrail – London’s most significant infrastructure improvement since the introduction of the tube lines – is due to be operational at Acton Main Line from 2018, meaning that it will be a 10 minute journey into the West End and only 16 minutes to the City.

In the autumn of 2014 Carphone Warehouse – or Dixons Carphone plc, as the company has become following its merger – regeared and extended its lease with Crosstree.