Commercial Blog August 2017 - Colliers International | London


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  1. August 2017

  2. Final call: last chance to secure a remarkable Shoreditch office at The Bonhill Building

    2 August 2017
    Just one office remains available at the newly refurbished Bonhill Building; 10,140ft2 on the second floor. Glazing to every elevation means natural daylight floods the floors of flexible open plan spaces that suit a wide range of occupiers.
    The interior specification includes a new VRF exposed air-conditioning system, fully accessible metal tile raised floors, modern suspended LED light fittings and an occupancy ratio of 1 person per 10 sq m. The building has WC & shower facilities on each floor, secure bicycle storage and goods loading.

    Recently let are spaces on the part second, third and fifth floors.

    Taking 23,000ft2 across the entire third floor and part of the second is the API company Nexmo, owned by leading cloud communications service provider Vonage.

    The fifth floor currently being extended and refurbished to provide 12,682ft2 has been pre-let to another household name.

    Alongside the revamped offices, the reception has also been remodeled to reflect the industrial heritage of the local area while looking into a shared ground floor courtyard where an artisan cafe is to be found. A branch of Dolcezza, London's first Italian pasticceria, this sleek modern eatery serves coffee and traditional pastries and cakes that are handmade and produced daily.

    The Bonhill Building has a location that manages not only to be at the heart of the Shoreditch and Old Street scene, but also close to City locations like Finsbury Square, Moorgate and Liverpool Street. This creates an unusually wide audience, with an offering equally attractive to the creative, fintech and professional sectors.

    For further information please contact the joint leasing agents Colliers and Allsop

    The Author

    Oliver Jay
    020 7101 2020
    07903 714 187
  3. July 2017

  4. Family friendly co-working space arrives in London Fields

    31 July 2017
    The world of serviced offices has seen a swift and remarkable transformation in the last few years, from rudimentary offices and meeting rooms for those on a tight budget, to modern communities in designer workspaces with cutting-edge technology and amenities. The sector has proved particularly popular with startups seeking flexible space solutions that bend to the evolutionary arc of their business.
    As more providers enter the marketplace so the competition hots up, much to the benefit of would-be tenants as innovative ideas are devised and delivered to draw in the best selection of occupiers.

    At the forefront of future-thinking and flexible workspaces is Second Home, whose initial project in Spitalfields took the co-working sector by storm, not only with its ground-breaking combination of spatial design and furnishings, but with an in-house cultural and wellness programme from talks and music through a run club and Pilates.

    Now Second Home is taking things a step further with a new co-working location in London Fields that welcomes working parents into the fold - perfect timing with the end of the school holidays approaching.

    As well as an on-site creche there’ll be milk-warming facilities in the greenery-filled cafeteria and parking for buggies and scooters. Parents can pop into the nursery whenever they like, or be updated when their child goes to sleep, or be left in peace for the whole day.

    Second Home locations provide private studios and flexible workspaces for individuals and teams of up to 175 people – all surrounded by curves, natural light and thousands of plants and trees.

    Described by Business Insider as "A futuristic space that London’s most innovative companies all want to join”, and by the Evening Standard as "London's coolest workspace", Second Home can also lay claim to some impressive measures of success: 

    90% of Second Home members enjoy coming to work vs 40% national average

    Businesses grow 10 times faster at Second Home: 50% annual headcount growth vs 5.4% national average

    75% of Second Home members have  collaborated with each other on key business projects

    Second Home is also set to spread its wings west and introduce some City Fringe creative cool to the glamorous environs of Holland Park.

    If you'd like to discover how a Second Home could be good for your business, please get in touch with the Colliers City Fringe team to arrange a tour.

    The Author

    Mark Bott
    0207 101 2020
    +44 7879 890 115
  5. Bare necessities: exposed everything at Clerkenwell office refurbishment

    20 July 2017
    At 35 Great Sutton Street, between St John Street and Goswell Road in what is truly the creative heart of Clerkenwell, a former Victorian warehouse has just undergone a complete refurbishment to provide almost 6,000ft2 of classic City Fringe workspace along with a completely remodelled reception.
    With stripped original floorboards, tall iron columns, grit-blasted brickwork and refurbished crittal casements, the entire makeup of the interior has been uncovered and brought to the fore in a bold and authentic delivery of archetypal industrial aesthetics. The everything-on-show treatment continues with the modern specifications where surface-mounted air-conditioning ducts, suspected LED light boxes and galvanized overhead conduit deliver a futuristic element in a smart and sharp contrast to the raw and rugged shell.
    35 Great Sutton Street has three storeys of sprawling office units, one to each floor, with a typical workspace measuring circa 1,900ft2 and a total of 5,813ft2 available. Each office is entirely open plan giving absolute flexibility in how an occupier chooses to use it, from retaining a room without walls for maximum team spirit, to creating individual work and breakout areas for brainstorming and focus. Perimeter trunking and multiple power sockets recessed into the floor further assist and accentuate the myriad options for layout and design.
    These are quintessential creative enterprise units with plenty of volume and natural light: banks of industrial windows wrap around both external elevations of the corner site and are enhanced by generous floor-to-ceiling heights. Facilities within the building include a passenger lift, cycle storage, communal WCs and 24-hour access, with a sleek front-of-house reception that celebrates the local architectural heritage while presenting a cool and contemporary entry point to the building.
    Great Sutton Street is surrounded by cafes, bars and restaurants giving plentiful breakfast, lunch, dinner and social options to suit any taste and occasion at any time of day – from business meetings to team drinks to simply grabbing something on the go, the choice is seemingly limitless. It’s a Clerkenwell pocket that hosts some of the neighbourhood’s most longstanding and perennial favourites including Clerkenwell Grind, The Modern Pantry and The Slaughtered Lamb alongside countless newer additions that make this part of London such a draw.
    Connections are excellent with Farringdon and Barbican stations both within 8 minutes walk. While the two are stops on the Circle, Metropolitan and Hammersmith & City Lines, Farringdon also has Thameslink trains with direct services to Gatwick and Luton Airports and is set to become a major interchange on the Elizabeth Line, due to open in 2018.

    We are quoting a rent of £67.50 per ft2 for each office space.

    The Author

    Richard Silver
    020 7101 2020
    07980 205 293
  6. Tall order: find the ultimate workspace for the ultimate workspace designer

    20 July 2017
    There is rarely an office space requirement that we’d file in the impossible tray, but there are certainly those that come close. Take this one.
    Locate a City Fringe space that is both quintessential and unique: one that reflects wholeheartedly why people come to the area but is nonetheless entirely unconventional within that remit; somewhere that already exhibits a wow factor, but with the capacity to showcase the talents of an interior design firm; and somewhere that is a perfect and practical operating environment for that company to work from. Oh yes, and a floor plate of 13,000ft2.

    Those criteria formed the brief from Thirdway Interiors, a design and build company looking to expand and relocate from their existing offices in Farringdon. Our relationship with Thirdway goes back a number of years and we continue to work on numerous projects with them, so finding their perfect new home carried some significance. We think it was Sean Connery who said: “There’s nothing like a challenge to bring out the best in someone”.
    After scouring a broad range of clients and contacts for potential and hidden prospects, we eventually found a new location for Thirdway almost under our very noses, at Morelands on Old Street. This collection of repurposed workshops and warehouses was developed by Derwent London in 2003 and is, of course, home to the Colliers City Fringe team. (There is a running joke about Thirdway following us around, given the company’s last move was to Bleeding Heart Yard, also the site of our previous office.)
    In one of the rear warehouses at Morelands, we found an off-market opportunity that zestfully ticked all the boxes: 13,000ft2 of authentic industrial space with the requisite raw qualities of bare bricks and crittal windows, augmented with 4m ceiling heights and a multi-level arrangement of interconnecting spaces in a cluster of buildings teaming with creative enterprises and start-ups.  In short, mission accomplished.

    Thirdway are currently fitting out their new premises and expect to take up occupation in August. We, meanwhile, are looking forward to welcoming back our old neighbours, as new ones.

    The Author

    Shaun Simons
    020 7101 2020
    07788 423 131
  7. Quadrifoglio chooses Clerkenwell for first UK showroom

    19 July 2017
    As London’s go-to destination for designer office furniture, Clerkenwell was an obvious choice for Italian born firm Quadrifoglio to open its very first location in the UK.
    The company has chosen premises on one of Clerkenwell’s prime showroom thoroughfares. 52-54 St John Street has undergone an extensive refurbishment of both twin 1980s office buildings by Columbia Threadneedle to a design by architects The Manser Practice.

    We acted for Quadrifoglio in their acquisition of a duplex showroom space of 1,478 Ft². The unit is split across the ground and lower ground levels, with the two floors linked with a chic black iron spiral staircase.  There’s great window frontage as well and the building’s façade facing St John Street has been substantially redesigned with new glazing, illuminated canopies, and contemporary dark grey paint applied to the original brickwork.
    Quadrifoglio was founded in Italy over 25 years ago and now operates on a global level. The company designs and manufactures office furniture and has a number a number of brands covering lighting, seating, workspaces, reception areas and storage.
    The company expects to begin fitting out its new premises in September with a view to be open in Autumn this year.   

    If you are a lean, Clerkenwell based company looking for a new home, there is up to 6,865 Ft² available on the upper levels. The whole building refurbishment includes beautifully finished wooden floors, new lighting, exposed services and air conditioning.  For more information, or to arrange a viewing, please contact us on 0207 101 2020

    The Author

    Sophie Higgins
    020 7101 2020
    07786 510 974
  8. From ugly sister to queen bee: the regal ascent of Kings Cross

    13 July 2017
    If ever there was a Cinderella story in London’s commercial property market, surely it is that of Kings Cross. Dreaming for years of sharing the joys of its glamorous neighbours at Shoreditch and Clerkenwell, its position seemed doomed to remain that of a scruffy, embarrassing and mercifully distant relative.

    Dirty and seedy old Kings Cross was, for most people, somewhere to pass through as quickly as possible. Although a number of rightly missed nightclubs occupied some of the disused warehouses, it was other less savoury night-time trades that fuelled the area’s wider reputation, one that did little to attract anyone to live here, work here or spend the weekend. 

    And then, in what seemed like a miraculous overnight transformation, Kings Cross completely reinvented itself as a beguiling modern quarter, packed to rafters with culture, cuisine and creativity. The buzz and vibrancy was so instantaneous that you could easily be forgiven for thinking thousands of people were simply dropped from the sky one morning to create an immediate scene.

    While many factors brought about this rapid change – and perhaps it was simply time given London’s continued expansion and prosperity – but in terms of what first got people really talking, credit must go to the redevelopment of St Pancras International. Not only today a magnificent London gateway as an intercity and international rail terminus, but also designer shopping mall, destination hotel and seminal loft living address. Not bad for a train station.

    With so many swathes of disused land and without the warrens of narrow streets that make up most of the city fringe, Kings Cross was free to develop entirely as it pleased. While the charm of Shoreditch and Clerkenwell lies in their atmospheric lanes of repurposed warehouses, Kings Cross had no such historical gifts and consequently became the largest regeneration project in Europe as the entire district was scooped out and a master plan devised.

    It is this liberation that gives Kings Cross its unique civic offering of public open space that is remarkable for a Central London location. With large public piazzas and urban parks along the revitalised banks of the Regent’s Canal, it is an area unrecognisable from just a decade ago. It took Clerkenwell and Shoreditch the best part of 20 years to get this far and to cement themselves in their hallowed status of Loft Living HQ and Creative Enterprise Mecca, but Kings Cross really has done it in about half the time. 

    Today, it seems as though the world wants to be here, with independent creative enterprises flinging themselves at space whenever it becomes available, whether in the refurbished buildings of the Victorian railway heyday, or in the flurry of new offerings from contemporary London architects.  The big boys are in on it too, with New Look taking 123,000ft2 for their new headquarters and the mighty Google submitting plans for a 92,000m2 ‘landscraper’ – a building that is longer than The Shard is tall.  

    But Kings Cross is not just for its workers and residents. The district is taking no prisoners when it comes to an all-encompassing cultural offering designed to bring people in from near and far with galleries, open air cinema, outdoor concerts and an open air swimming pool, not to mention what has been called a “blazing dining scene” with an insanely eclectic and every evolving culinary scene in some extraordinary spaces.

    The Author

    Oliver Jay
    020 7101 2020
    07903 714 187
  9. Colliers enters the serviced office market with new advisory team

    12 July 2017
    Having assisted a number of serviced office providers including WeWork and The Office Group in securing new locations, Colliers City Fringe now has a dedicated Serviced Office Advisory Team to assist occupiers in finding flexible workspace solutions. The team also advises existing and potential providers of serviced offices on acquisition, demand and what to offer to occupants.
    According to a new report by Capital Economics, commissioned by Office Space in Town, the UK serviced office market (currently valued at £16bn) has experienced rapid growth and sustained a high level of demand in recent years, having grown by 31% since 2008, with the sector’s value expected to hit £62bn by 2025, and possibly £126bn on more optimistic projections.

    The City Fringe has seen a huge increase in its own canon of serviced offices that cater to the vast and ever-growing community of start-ups and creative enterprises. Where a change in headcount can be fast and require rapid relocation, flexible workspaces allow firms to start small and quickly scale up or down according to their business trajectory, without the commitments and responsibilities of a long-term lease.

    But serviced offices are also finding favour as a quick fix for companies putting together temporary teams and needing extra space to house them. Their new operation can be up and running within a matter of days and be kept for no longer than is required for the duration of whatever project they’re working on.

    For an enterprise contemplating the idea of serviced offices, there are a number of benefits worth considering. Fully furnished and ready for immediate occupation, they require no capital expenditure for either fitting out or dilapidations, allowing a firm to retain that money for investment in R&D, staff and growth. 

    Providing a fixed cost solution with flexible terms from as little as one month right up to three years, serviced offices also remove the time and effort required by a company in the physical management of its premises, allowing it to focus entirely on its core business.

    Even huge internationals are waking up to the benefits of serviced offices: HSBC in Hong Kong recently put a 300-strong digital team into serviced offices to allow its employees “to collaborate in an open plan and agile working environment”, while IBM has put 600 employees into serviced offices in New York while it hunts for new headquarters. Quick occupation, a term length directly aligned with their own time frame, a fully furnished environment and a resilient and robust IT connection make for an enticing combination.

    Serviced offices can be delivered in a bespoke fashion to create a self-contained office with branding including company logos creating an environment with its own identity, while a ready-made community of like-minded businesses provides in-house networking and socialising opportunities, often with excellent communal spaces and facilities. Those might include lounge areas, terraces and even special events.

    There are benefits, too, for companies that do business in global locations, with some serviced office providers issuing meeting room credits valid for any of their buildings around the world.

    British Land has now joined the serviced office market and has just launched its flexible workspace initiative, Storey, and has instructed Colliers City Fringe as the exclusive agent for its two locations at the meeting point of Shoreditch and the City: Appold Studios consists of four floors in a 19th century former warehouse, while 2FA delivers eight floors of raw contemporary design in a striking office building.

    Please contact us for more information on Storey, or for any advice on serviced office, co-working or flexible workspace accommodation.

    The Author

    Mark Bott
    0207 101 2020
    +44 7879 890 115
  10. Pulling power: Cannon Green continues to charm city occupiers

    11 July 2017
    We’ve written about the Cannon Green development before, but the ongoing story is worth returning to because of the building’s unique offering of creative sector-style spaces and facilities right in the middle of the City.

    Two more offices have now been let with the most recent tenants coming from the public relations and digital recruitment sectors.

    Relocating from its current home on St Cross Street in Farringdon, Interquest has taken the entire 3rd floor with new offices measuring 9,289ft2. Starting out in 2001, the company recruits talent to the highest growth areas of the global digital economy and has grown at an impressive rate with periodic strategic acquisitions accelerating its organisational growth.

    Taking the majority of the 4th floor with 6,489ft2, Headland is one of the UK’s five fastest-growing agencies in corporate and financial communications and public affairs. The company’s list of clients includes the UK’s most trusted brand, the world’s largest wealth management firm and the UK’s largest fitness club group. Last year, Headland’s team grew by more than 30%.

    Cannon Green has an island site just north of Upper Thames Street and references various eras of London design, from private Victorian members’ clubs through industrial heritage and right up to futuristic creative, tech and media hub. With a relaxed business lounge, vibrant restaurant, fitness facilities and two large roof terraces, the building’s tag line of “new style in the square mile” really does tell it like it is.

    The 20,000ft2 fitness studio has been taken by the pioneering Gymbox who turned the fitness club model on its head through a network of inventive environments with DJs, larger-than-life instructors and extraordinary interiors designed by the architects behind Manchester’s Hacienda nightclub.

    Drake & Morgan, meanwhile, will operate the 7,000ft2 restaurant space. The brand has a collection of all day restaurants and bars in the City and Mid Town serving everything from breakfast to long lunches to crafted cocktails at venues like The Anthologist, The Happenstance and The Folly.

    Almost on top of Cannon Street station, Cannon Green is really well connected. A few minutes walk from Bank, Mansion House and Monument tubes, the building is also within a wander of Blackfriars and Liverpool Street.

    Of the 115,000ft2 of sleekly styled workspace on offer, just 35,000ft2 remains available. If you’d like to make your new home at Cannon Green, do get in touch.

    The Author

    Ricky Blair
    020 7101 2020
    07961 104 125
  11. Cool Britannia: sleek new City offices in refurbished heritage buildings

    6 July 2017
    Combining stunning City architecture with cutting-edge office design, the Eastcheap Estate consists of a magnificent Victorian parade thoroughly reimagined to reflect the blurring of lines between London’s creative and professional districts. As the City’s traditional makeup evolves into a lively scene of on-trend retail and restaurant locations, so the audience has moved beyond its historic legal and financial roots with a new wave of design-conscious enterprises happily making the Square Mile its home.
    Encompassing numbers 25 to 39 Eastcheap EC3, the development has already attracted a number of interesting retailers including Joe & the Juice, Waka and Black Sheep Coffee that give the ground floor a lively and convenient amenity to the offices above.

    Number 25 spans three classic buildings abutting the corner of Philpot Lane with a magnificent crowning cornice the wraps around the western end. Inside the wide range of highly designed and specified offices has floor plates ranging from 1,304 to 2,356ft2 with is scope to take one or multiple units, and even the entire building as an impressive headquarters of 11,178ft2. A newly remodelled and manned reception, 8-person passenger lift, WCs and showers throughout are among the building’s facilities, while the offices are finished in a smooth interior aesthetic of raised metal floors, LED light boxes and concealed services with flashes of original detail including iron columns and grit-blasted brick.

    At the Grade II Listed number 33, the enormously striking gothic façade includes intricate stonework across several porticos and arches. The embellished exterior will be matched inside (currently under refurbishment) with a unique set of offices that proudly exhibit the rich character and history of the building while offering truly 21st century facilities – hoops of LED lighting suspended from modern ceiling roses sit in sumptuous accord alongside wood panelled walls, parquet floors and the original glamorous staircase in a seriously plush and atmospheric workplace. Again the possibility exists to take a single floor up to the entire building, with floor plates from 836 to 1570ft2 and a total area of 6,860ft2.

    Finally, the comprehensive refurbishment of number 39 provides high-quality contemporary offices with excellent natural light and user flexibility. Just one unit remains here, a wonderful duplex of 1,878ft2 across the 4th and 5th floors with a private terrace on the upper level that looks south across the rooftops and beautifully frames The Shard in its view. In the communal areas, the handsome iron balustrades of the main staircase contrast with a newly remodelled reception that includes a floor-to-ceiling contemporary light installation and an 8-person passenger lift. The office specification includes Guzzini LED lighting, VRF air conditioning and new double glazed sash windows.

    The central location of the Eastcheap Estate gives tenants and visitors the full benefit of the City’s lifestyle landscape. Leadenhall Market and Royal Exchange offer outstanding retail and foodie nirvana in extraordinary architectural surroundings while the bustling cafes and restaurants of Tower Hill and Monument serve up morning coffee to evening cocktails and everything in between. To cap it all, in less than 10 minutes you walk to the South Bank for an after-work cultural fix.

    Needless to say, accessibility is hard to beat with Fenchurch Street, Cannon Street and London Bridge rail termini all within easy walking distance of the Eastcheap Estate along with the Underground stations at Bank, Monument, Aldgate and Tower Hill.

    The Author

    Oliver Jay
    020 7101 2020
    07903 714 187
  12. High & bright: revamped media-style space in central Clerkenwell

    3 July 2017
    Five floors above the street at 79 Clerkenwell Road in EC1, this newly refurbished media-style office has a superb location in the heart of Clerkenwell that’s extremely well connected and surrounded by countless places to eat and drink.
    With a floor plate of 1473ft2, the general interior aesthetic is that of a futuristic industrial space with an individual identity from perforated steel structural beams overhead accompanied by exposed air conditioning ducts. Suspended circular pendant lighting softens the edges and adds an elegant quality.

    Being up so high delivers plenty of natural daylight from floor-to-ceiling windows spanning the building’s entire front elevation, while the views reach across the City Fringe rooftops towards Mount Pleasant.

    Further specifications include fully accessible raised metal floors, self-contained WC facilities, security intercom and bright white décor. We are quoting a rent of £59.50per ft2.

    As well as its refurbished office spaces, 79 Clerkenwell Road also features a redesigned reception lobby with modern tessellated tiled floors and sleek blades of overhead LED lighting. The building has a lift to all floors and provides 24-hour access to its occupiers.

    Almost at the junction with Hatton Garden, the building is perfectly positioned for Leather Lane’s street market (with plenty of cafes and food trucks) along with the multiple bars and restaurants of Farringdon Road and St Cross Street where countless local favourites serve everything from morning coffee to evening cocktails and dishes from every corner of the globe. It’s a great place to be whether before, during or after work.

    Also nearby is Farringdon station, a mere 6 minutes’ walk and already well connected with Underground and Thameslink services. Soon, Farringdon will become major interchange on the Elizabeth Line in 2018 with direct trains to Heathrow Airport, Canary Wharf and more. And with numerous bus routes either passing the door or stopping close by, 79 Clerkenwell Road is one very easy place to get to.

    For further information please contact:

    The Author

    Emma Higgins
    0207 101 2020
    07769 605 295
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