Right here, right now: plug’n’play space for immediate rental in Hatton Garden28 October 2019This third floor office space comprises 535ft2 and is a complete plug’n’play solution, supplied with a stylish contingent of complementing furniture and fittings including 8 fully cabled workstations, black mesh chairs, metal-framed room divider glass shelves, sleek LED lightboxes and comfort cooling units in anthracite. A sleek minimalist kitchen in gloss white with plenty of cupboard space blends into the white décor and a parquet wooden floor runs throughout the workspace.The building has a striking and classically-influenced exterior stone façade along with refurbished common parts featuring a beautifully restored original mosaic floor, which combine to create a sense of occasion and arrival. Additional facilities include refurbished WCs and a passenger lift.Two units at 6-7 Hatton Garden are occupied by the meeting room provider Breather who chose the building as one its London locations offering workspace and meeting room facilities at hourly and daily rates – perfect for an onsite solution if you’d like the facility to host larger meetings or events without a long-term commitment to more space.Hatton Garden has deep roots as a jewellery district and still retains a number of high end showrooms that keep its heritage alive. More recently an influx of design and media occupiers has given new energy to the street scene, creating a lively creative corridor between Holborn and Clerkenwell Road and home to the place-making Johnson Building by Derwent London.The location is just moments from the daily street food market on Leather Lane, the next street over to the west, and a firm favourite on the local lunchtime scene, while the rest of the immediate vicinity is packed with places from breakfast to bedtime and beyond.With the entrance to Chancery Lane Underground station (Central Line) at it’s southern tip, Hatton Garden is also just a few minutes walk from Farringdon station where Thameslink and three Underground lines are set to be joined by the new Elizabeth Line. This will create a pivotal Central London interchange and the only place where Thameslink and Crossrail intersect, as well as and the only station in the capital with direct trains to both Gatwick and Heathrow Airports.
Highly bright: 5-metre ceilings and wraparound glass at street level office25 October 2019Connecting Old Street roundabout to Angel, City Road has undergone a monumental transformation in the last few years, from a simple gateway to the City into an architectural corridor of residential and commercial towers.One of the most eye-catching is the 24-storey Canaletto building at number 259, designed by the renowned architectural practice UN Studio and a confident break from the norm with its curved cladding snaking around the exterior to create an arresting sight.The ground and lower ground floors are home to 6,850ft2 of B1 office office space in a single, self-contained unit that includes an extensive street frontage of full height windows that wrap around the entire external elevation and offer remarkable and highly visible prospects for branding. Inside, ground floor ceiling heights up to 5.3 metres allow the floor area to be increased and further dramatised with the installation of one or multiple mezzanines, while even the lower ground floor has a height of 3 metres.Sold in shell and core condition, the space features chunky concrete pillars around its perimeter allowing for an almost uninterrupted open plan floor plate, giving an ingoing business the freedom to create at will the space that fits its operation.259 City Road sits at the corner of Wharf Road, home to the Shoreditch location of Victoria Miro gallery and the approach road to the nearby Wenlock Basin and Regent’s Canal. The presence of so many galleries in the adjacent streets adds an artistic tone to the pervading creative buzz from the Tech City scene and proximity to Silicon Roundabout.Teeming with start-ups, fashion brands, architect firms, media and advertising companies,Hoxton and Shoreditch are now home to some of the globe’s most recognisable brands. As well as a local abundance of Victorian warehouses and workhouses, the neighbourhood has entered a new era through an influx of world-class architecture, offering some of the best contemporary workspace in London, such as 259 City Road.The office space is available as a virtual freehold and we are quoting offers in excess of £4,250,000, equating to £620 per ft2.
Rising above it1 October 2019On the face of it, the London office occupier market seems to be relatively unphased by the political chaos that prevails in Westminster.
Demand appears stable, evidenced by above average take-up levels and reinforced by a summer of deal brokering, which saw more than 2m sq ft leased in July and August.
Given that London is experiencing a major shortage of quality new office stock, naysayers might conclude that vacancy is only falling because of constraints on new supply. So is there any hard evidence to show that demand is not only holding up, but going from strength to strength?
Financial services demand appears to surging but off a lower base than other sectors. The sector has accounted for 33% of demand in the year-to-date, compared to just 13% in the equivalent period in 2018. Much of this demand is like-for-like churn, with occupiers at best mirroring future space takes with current real estate obligations. Nevertheless, space is still being absorbed and not all of it is Grade A product.
But the real dynamo in the London economy remains the Media & Tech sector. During the past 12 months, the sector has seen its strongest net growth in the past 15 years.
The trendiest locations for tech occupiers - Shoreditch, Farringdon and Clerkenwell - are now at record pricing levels for City Fringe submarket. And even where tech occupiers have gone further afield, big lettings to BT, Sony, Google and Facebook have further taken up any potential slack.
London Media & Tech occupation grew 8% year-on-year, and we’re seeing new tech clusters emerge within large-scale developments such as Battersea Power Station (Apple) and White City (Publicis).
The message is clear, London’s occupier market remains in rude health, despite the continuing structural, political and technological changes that are ongoing. Even the Square Mile is benefitting from the positive vibes. Media & Tech occupation in the Square Mile has raced ahead of the City Fringe markets this year - surging to more than 5m sq ft for the first time.
Selling cinema19 September 2019Last week’s news that Selfridges is planning to open a cinema in its Oxford Street store is a further sign of the renaissance of London’s silver screens.
Nationally, cinema attendance levels have hit a 40-year high while in the capital one of its iconic cinemas – the Odeon Leicester Square – has recently re-opened after a multi-million pound refurbishment. Confidence in the sector is high and there’s good reasons why.
Many decades ago cinema was credited as having ‘killed off the music hall’, and its own slow demise was predicted in the face of first, television, and then digital downloads. Ironically, it is TV which is now arguably being more impacted by online entertainment although Netflix – which is supposed to bring the cinema into your front room - continues to haemorrhage money while the cinema chains count the takings.
The ability to ‘deliver an experience’ is the key to cinema’s resilience as a leisure pursuit. What the new Selfridges screen and the refitted Odeon have in common is that they want to offer an enhanced customer experience.
The Selfridges project is a joint venture with the people behind The Olympic cinema in Barnes. A quick perusal of its description of how the former recording studios were turned into a cinema (‘We went to Norway to find the comfiest reclining seats and then wrapped them in snuggly wool felt’) tells you about their approach.
And there’s a symmetry about a retailer branching out into cinema as both sectors know they have to provide an experience-led offer if they are to thrive. In this respect they are both complementary and aligned.
This ‘premium-isation’ of cinemas has started in the boutique end of the sector but it will inevitably spread to the multiplexes. Operators are striving to make sure that the cinema experience continues to beat watching a film in your living room.
After all, no matter how big your TV is, it’s no match for the silver screen.
Muted tones throw art deco shade at a revamped 1920s icon13 September 2019Despite its prominent position at a busy Clerkenwell intersection, it’s perfectly possible to miss the art deco glory of 91-93 Farringdon Road that sits above the street level showroom space. But look up and you’ll find a strong façade of grey stone under a tiled mansard wrapping around the junction of Clerkenwell Road and Farringdon Road, showing clear similarities with the Faraday Building telephone exchange on Queen Victoria Street in the City, and even the former home of the BBC World Service at Bush House on Aldwych.Known as The Corner Building, this striking slice of 1920s London is in a process of refurbishment including the main lobby, communal areas and a selection of offices. Currently available are three units between 2,200 ft2 and 2,600ft2 on the 1st, 3rd and 6th floors.Inside, the offices feature huge multi-pane sash windows that fill the spaces with natural light and act as a constant reminder of the building’s heritage, while the new specification brings things thoroughly up-to-date with exposed overhead services and air conditioning in galvanised channels; powder- coated LED lightboxes; raised metal tile floors and a décor palette of bright white walls and anthracite woodwork.The communal areas are also undergoing a refurbishment that uses a classic art deco pallet of colours and materials given a contemporary application. The main lobby features open tread steel staircases with glazed mezzanines; dual glazed doors to elevators; a reception desktop and building directory in grey marble, and suspended pendant lighting and wall motifs in brass. The confluence of styles and their treatment continues to the WC facilities where white fittings with black taps and accessories are met with green tea coloured ceramic tiles below pale pink paintwork.Further amenities within the building include fibre optic cabling, secure cycle storage, WC and shower facilities and an onsite commissionaire.With a location at one of Clerkenwell’s most vital junctions, the building straddles the Farringdon/Clerkenwell border and is surrounded by the very best of both with Hatton Garden, Cowcross Street, the daily street food market at Leather Lane and the pedestrian café and bar scene of Exmouth Market all within a few minutes walk.Almost directly across the the street is Farringdon station, already well connected with its Thameslink and Underground services and soon to become a major London interchange with the arrival on the Elizabeth Line.We are quoting an initial rent of £72.50 per ft2 for each office with occupation set for mid-September.
Media-style office in Clerkenwell’s showroom district11 September 2019Having undergone a refurbishment and now available for occupation, this 4th-floor office sits at the top of a former industrial building in a prime Clerkenwell position.Measuring 1464ft2, the top floor space has high ceilings that reach up into the roof apex with exposed timber and steel joists that radiate plenty of loft character. It’s an authentic warehouse feel that continues with the beautiful original factory windows to the front, offset with double-glazed matching replacements to the rest of the space. Other renovation works include refurbishing the kitchenette and demised WC, along with repainting the original floorboards.The office has a partial fit-out that includes suspended lighting, grit-blasted brickwork, exposed air-conditioning units, galvanized conduit running overhead, super-fast fibre connectivity and a sleek glass-walled meeting room.Set in Clerkenwell’s showroom district among occupiers including Vitra, Boss and Ocee, Great Sutton Street has amassed a comprehensive collection of art galleries and design stores that deliver a laidback and creative vibe. Running parallel to – and just north of – Clerkenwell Road, the street is also home to one of the neighbourhood’s best pubs, The Slaughtered Lamb.In fact, Clerkenwell is somewhat legendary for its vast offering of places to eat and drink, from an early morning coffee to late night cocktails and everything in between: it’s part of what makes it so easy for businesses to attract the very best talent in London. Within walking distance of Great Sutton Street are two particular local favourites: the daily street food market at Whitecross Street, and the recently created gastro-boulevard at The Bower.Nearby Old Street Roundabout is currently undergoing a major transformation and, in 2020, will open as a contemporary public piazza by closing off the north-west entrance to City Road. This latest piece of public realm will include new pedestrian crossings, dedicated cycle lanes and lots of seating.Transport connections are excellent with Farringdon, Barbican and Old Street stations all within a short walk and offering between them Underground, National Rail and Thameslink services. Old Street station is being refurbishment as part of the improvements to the roundabout above and, when the first phase of Crossrail completes, Farringdon will become a major Central London interchange with fast trains to Canary Wharf, Heathrow Airport and deeper into Kent, Essex and Berkshire.The office is being marketed at a rent of £49.50 per ft2. If you would like to see whether this could be the next home for your business, please do get in touch.
Recently arrived at Kings Cross: newly refurbished 1,645 ft² office9 September 2019One of the most outstanding features of the Kings Cross office market is the continual demand for space and commensurate dearth of supply. It is quite possibly the most difficult part of London's creative quarter for a business to secure a workspace, meaning whenever something comes along it has an eager and waiting audience.At 223 Pentonville Road N1, about halfway between Kings Cross and Angel stations in a building of red brick and black steel, we are marketing a newly refurbished office floor of around 1,645 ft² with its own private roof terrace.Inside, the completely open floor plate is filled with natural light from large windows spanning two full elevations. Finishes include bright white decor with contrasting grey woodwork, recessed air conditioning, perimeter cable trunking and twin lifts opening directly into the space.223 Pentonville Road is well set up as a contemporary workplace with facilities including an on-site commissionaire, 2 x 8 person passenger lifts, cycle storage and communal shower and WC facilities.Outside, the spacious and private terrace measures circa 470 ft² and has timber decking and exterior lighting. The view sweeps across Central London from the City to the West End and takes in many of the capital's architectural icons including The Gherkin, Barbican, Shard, BT Tower and St Pancras International.As well as a place of work, the local street scene is now a vibrant London destination with cafes, shops and galleries repurposed from fomer railway buildings and strung along the Regent's Canal including Granary Square, Kings Cross Place and Coal Drops Yard. Or, for one of London's most established and successful High Streets, wander east into bustling Islington.As a major gateway to London, Kings Cross is incredibly well served by national & international rail, underground and bus. With direct services to Heathrow, Gatwick and Luton Airports; Intercity trains to the Midlands, North England and Scotland; Eurostar to Paris, Brussels and Amsterdam; 7 Underground lines and over 20 bus routes, nowhere in the capital is better connected.The office is available for immediate occupation and we are quoting a rent of £59.50 /ft².
Limited supply: two floors under offer and four to go at The Stock House5 September 2019Originally built between 1914 - 1916 as a Clerkenwell warehouse believed to store London stock bricks, numbers 17-18 Britton Street EC1 have now undergone a 2019 refurbishment under the direction of ORMS Architects.Deeply rooted in Clerkenwell's heritage, Britton Street's history dates back to the early 1700s when it was known as Red Lion Street after the local pub. In 1937 the street was renamed after the antiquary John Britton who, bringing the story full circle, was an apprentice at The Red Lion, which by then was called The Jerusalem Tavern.With a name and materials that honour the building's original use, The Stock House had been given a new streetside elevation of handmade clay bricks made in Denmark at the Peterson Tegl brickworks. A grid of large oak-framed floor-to-ceiling windows with contemporary concrete lintls competes the transformation into a 21st century facade.Inside, the building totals 13,326ft² of considered and crafted workspace where the top two storeys are already under offer. That leaves four floors available: the lower ground, ground, first and second - making approximately 8,400ft² to be taken as a whole or individually.The ground and lower ground floors form a single self-contained unit of 5,285ft², with a private entrance on Britton Street and and a feature helical staircase connecting the two levels. The remaining offices are accessed through the main building entrance with the first floor unit measuring 3,200ft², and the second floor 1,830ft² with an additional 1,300ft² private terrace.The Stock House welcomes occupiers and visitors to its lift lobby and hall with teal coloured walls, brass detailing and hardwood parquet floors. Inside the offices a high-quality Cat A specification and modern-industrial aesthetic prevails with concrete soffits and exposed overhead services including air-conditioning ducts and suspended LED lightboxes in rectangular and circular forms.The design continues to the WCs where a white Corian combines with black taps and Staffordshire Blue floor bricks, while the building's contemporary workplace credentials continue with unisex showers and 20 covered cycle spaces.Clerkenwell really needs no introduction add the centre and vanguard of London's creative quarter, with neighbours of The Stock House including Linkedin, Vitra, Zaha Hadid, Grey London and Publicis Groupe. The local scene of cafes, bars, restaurants and retail is one of the best in the capital and soon, the already-acknowledged connectivity of Farringdon station is set for the the arrival of Crossrail, create a major London interchange with unique city connections.
Demand for basement space in The City continues to rise4 September 2019New HIIT and Strength Circuit concept CIRQ to open in Ludgate House
CIRQ, advised by the UK Leisure Agency team of global real estate advisor Colliers International, has acquired the basement space of Ludgate House at 111 Fleet Street, London EC4.
The fitness group has acquired 3,660 sq ft of space in this busy footfall location.
The site will be a dedicated studio for new class-based concept with screen technology, CIRQ, which focusses on HIIT and Strength Circuit training.
Ross Kirton, Head of UK Leisure Agency at Colliers International said: “This exciting acquisition by CIRQ (in partnership with The Health Club Collection) reaffirms the competitive nature of the central London studio gym market, and continues the trend of fitness groups seeking space in prime City locations.”
Recent research by Colliers identified that people like to fit their workouts around their professional commitments. Of the 2,000 Londoners surveyed, 34 per cent of people like to work out in the morning, while 35 per cent go to the gym after work and another 15 per cent choose to keep fit during their lunch break.
Kirton continued: “Our research also found that 45 per cent of people like to work out more intensely during the week, making Ludgate House, which is home to a number of densely populated office developments, the ideal location for CIRQ’s flagship.”
Robert Burstein of CIRQ added: “With its excellent understanding of London’s health and fitness market, Colliers was able to expertly advise on which locations would give us the best access to CIRQ’s core demographic. We are excited to be bringing this new concept to The City and look forward to welcoming visitors from 3rd September 2019 onwards.”
Concrete, crittal & cool: mid century meets industrial at 60s office refurb2 September 2019Aside from an Eames table or a Barcelona chair, fans of mid century modern design don't have much to look at in the city fringe. Yes they can visit the Barbican for a shot of brutalism and culture, but when it comes to sourcing a contemporary workspace, it's repurposed Victorian warehouses that hold the majority.So when a building from the 50s or 60s does emerge with a contemporary makeover it's an altogether more noteworthy event and one that gives these newly refurbished offices on Bastwick Street in Clerkenwell something of a fairly clear playing field.One on the first floor one on the second, each has a floor plate around 3,000ft2 and can be rented individually or as a pair. Fully fitted with furniture including desks, chairs, meeting rooms, board tables, breakout areas, storage units and kitchens, the offices are ready-to-go for any ingoing businessBoth spaces are dual aspect banks of oversized casement windows running in ribbons along two elevations and maximising natural light. Below the windows stand droid-like air con units of stainless steel and black mesh in a bit of sci-fi styling while exposed concrete beans and columns, oak engineered floors, suspended light boxes and galvanised conduit complete the aesthetic.The specification also includes underfloor cabling and newly remodeled demised WCs and showers, while the building's amenities include a communal rooftop terrace, cycle racks, passenger lift and a remodelled entrance lobby with commissionaire and 24-hour access.Contemporary design - particularly architecture, interiors and furniture - takes its cue firmly from the 50s are 60s: wide open spaces and simple clean lines threw off the compartments and embellishments of the 19th and early 20th centuries, setting the blueprint for modern workspace. Almost every item of furniture on sale in Clerkenwell's showroom district is made for a space like Bastwick Street, so when it comes to pure authenticity, it really doesn't get more real.The location is no less credible: just off Goswell Road and meters north of Old Street, Bastwick Street sits at the centre of London's creative hub and is close to Clerkenwell Green, Whitecross Street food market, Smithfield and Silicon Roundabout, soon to become a new public piazzaSuch centrality means excellent accessibility. Three stations are within walking distance: Barbican (for Underground), Old Street (Underground add National Rail) and (Thameslink and Underground today, with the Elizabeth Line set to transform the station into a major London interchange on a 60 mile route from Berkshire to Essex and Kent with stops at Heathrow Airport and Canary Wharf.
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