The Spirit of Co-operation
Plans have recently been announced by The
Co-Operative Group to consolidate its business operations in London within one
building in the City. The news has led to speculation that this will cause a
number of deals resulting in over 140,000 sq ft of office space being taken up
within the square mile.
The Co-op Group’s operations in London are located in
several different locations in the capital including those in Fleet Street and
Prescott Street. However, it has recently agreed to occupy the whole of St
Paul’s House, 10 Warwick Lane EC4. This new development consists of c. 36,000
sq ft and is owned by Beltane Asset Management.
Elsewhere in the City migration eastwards from the West-end
looks set to continue with the news that Brookfield Office Properties is to
move from its current location at 23 Hanover Square to its own refurbished building at 99
Bishopsgate EC2. Brookfield will occupy the whole 25,000 sq ft second floor, while
serviced office provider i2 is under offer to occupy the first floor, also of
25,000 sq ft.
Letting activity at the Heron Tower continues to be steady
following news that Schneider Trading Associates is thought to be under offer
to take 12,000 sq ft on the 15th floor. The company is currently based
at 25 Copthall Avenue EC2.
ETX Capital has also signed a new deal to occupy 9,066 sq ft
at Broadgate West, with a quoting rent of £35 psf. Two other firms are also in
negotiations for new space; The Collinson Group is looking to take 26,000 sq ft
of overflow space at Devonshire Square EC2 while Principal Global Investors is
discussing taking 11,000 sq ft of overflow space at 1 Wood Street EC2.
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