The Weekly Wrap
Floor, 10 Lower Thames Street – LET!
We are delighted to announce that the part 9th floor (5,360
sq ft) at 10 Lower Thames Street has been let on behalf of Northern & Shell
to Olivetree Financial Group.
The office was fully refurbished and offers panoramic river
views and a large private terrace overlooking Tower Bridge.
For more information please contact Jack Wells (0207 456
0729) or Jonathan Beilin (0207 456 0727)
London office take-up continues to rise despite Brexit
Despite the on-going chaos
surrounding the UK’s withdrawal from the EU, the fight for Grade A office space
in central London continued into the final quarter in an increasingly
European and North American companies such as Apple, Cisco,
Uber and Salesforce are demonstrating their commitment to London. Each are in
talks at various buildings for a take up of as much as 500,000 sq ft.
LaSalle Investment management and
Citygrove are in negotiations to sign U.S. technology giant Cisco for 100,000
sq ft across the top four floors of 60 London Wall, which topped out in August
in the City.
Business reports have indicated
this week that the U.S. ridesharing company Uber is monitoring the building for
its requirement of about 100,000 sq ft.
Citygrove and LaSalle received
approval in July 2017 for a 325,000 sq ft 10-story Grade A office refurbishment
and newly reconfigured ground-floor retail space of 20,000 sq ft. The
renovation of the property will provide 30% more floor space than the original
Negotiations have pushed forward
with Cisco in a sign of the strength of competition for prime space as Rabobank
has focused its attention on HB Reavis’s Bloom in Clerkenwell, where it has
entered talks to take 90,000 sq ft.
The above follows CBRE’s confirmation that there was 4.4m sq ft under offer at the end of the third quarter.
Middlecap buys leasehold from Sellar at London's Seal House
Located next to London Bridge, Seal
House is a 1970’s office building on the Thames north bank and marks the second
property investment in the UK from MiddleCap.
Eric Parry Architects planned two
different schemes for the renovation of Seal House, which was completed in
1978, including refurbishment proposal.
Planning was granted for a renovation
that would create more than 200,000 sq ft of office, retail and restaurant
space and include a public roof garden with fantastic views over the Thames and
MiddleCap’s UK Managing Director,
Jonathan Crawley, said: “We are delighted to have acquired Seal House and
expand our UK property portfolio. We look forward to working with the Sellar
team and will now consider which of the development options to take forward for
this fantastic riverside site.”
MiddleCap’s other UK property
development is the 70,000 sq ft Southworks in Rushworth Street, Southwark which
is due to complete towards the end of 2020.
22 Bishopsgate has more tenants lined up
Global insurance firm Canopius has
signed for two floors at AXA IM – Real Assets’ 22 Bishopsgate, EC2.
This will be its new UK
headquarters as it has taken a 10 year lease for 50,000 sq ft on the 29th
and 30th floors of the 62 storey building. Canopius is expected to
move into the offices in 2020.
The agreement brings the total
amount of space prelet at 22 Bishopsgate to more than 580,000 sq ft.
Other tenants confirmed include
office group Convene, law firm Cooley and data analytics provider Versk, while
Apple is also reportedly looking to take 100,000 sq ft while it waits to
complete its headquarters at the Battersea Power Station, SW8.
AXA IM – Real Assets said it is in
“advanced discussions with several other occupiers” and expects to make further
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