Central London. Winter 2018

Transcription

1 Central London Office Agency Winter 2018

2 Market Update Winter 2018 Whilst the media and social media is dominated by Brexit, the London office market continues to be resilient. Headline rents generally remain constant, although I am seeing examples of increased rent free periods, depending on the individual option. We are busy with both lettings and acquisitions across the West End, Midtown and City. Media and tech occupiers continue to account for a large number of lettings and there is also significant take-up by the operators in the flexible office sector, these include companies such as WeWork and The Office Group. The substantial redevelopment of Euston Station and to the immediate surrounding area has now commenced in readiness for HS2. This will be a significant regeneration of the area and is very exciting. We continue to be very busy acting for both landlords and tenants. It is important to maintain a proactive approach and be aware of any change in circumstances. We pride ourselves on being especially market aware. All our clients are provided with a first class, vigilant and proactive service and trust you will not hesitate to let me know when we can be of assistance. Regards Richard Spencer richardspencer@hng.co.uk williamgyngell@hng.co.uk Follow us on

3 120 Old Broad Street, London EC2 Office letting for Epic UK - 13,000 sq ft (1,207 sq m) Victory House, Leicester Square, London WC2 16,000 sq ft (1,486 sq m) Russell Square House, Russell Square, London WC1 Refurbishment advice and office letting for Epic UK - 60,000 sq ft (5,575 sq m) Baker Street, London W1 Office lettings 5,000 sq ft (465 sq m) 32 Brook Street, London W1 Refurbishment advice and office letting for Threadneedle Property Investments - 10,000 sq ft (930 sq m) Accurist House, 44 Baker Street, London W1 Office letting for Lazari Investments 5,600 sq ft (520 sq m) Watson House, 54 Baker Street, London W1 Office letting - 2,925 sq ft (272 sq m) 2 Cavendish Square, London W1 Office letting - 4,000 sq ft (371 sq m) 103 Mount Street, London WC1 Offices acquired for clients 2 Queen Anne s Buildings, London SW1 Offices acquired for Inventages Venture Capital 2 3

4 Minster House, 42 Mincing Lane, London EC3 Office Letting for The Clothworkers Company 5,022 q ft (467 sq m) 1-2 Berners Street, London, W1 Office letting for Lazari Investments 5,430 sq ft (504.5 sq m) 3-5 Burlington Gardens, London W1 Office letting for Epic UK - 9,000 sq ft (836 sq m) Ruskin House, Museum Street, London WC1 Office letting for Pension Fund - 2,717 sq ft (252.3 sq m) One Dover Street, London, W1 Office letting - 2,650 sq ft (246.2 sq m) 10 Piccadilly, London W1 Office letting for Jaegar Group - 12,000 sq ft (1,115 sq m) Baker Street, London W1 Office lettings on behalf of private client - 1,305 sq ft (121 sq m) 33 Cavendish Square, London W1 Office letting for Fundsmith LLP 24 Neal Street, London WC2 Office lettings for a private client Stephenson Way, London NW1 Refurbishment advice and office letting 25,000 sq ft (2,300 sq m) St James s Street, London SW1 Office letting for private clients 11,000 sq ft (1,022 sq m) 8 Sackville Street, London, W1 Office acquired for FPE Capital 4 5

5 77 Mansell Street, London E1 Office letting for Development Securities PLC 5,580 sq ft (518 sq m) Alders House, 133 Aldersgate Street, London EC1 Office sale for BACTA - 3,410 sq ft (316 sq m) 12 Rushworth Street, London SE1 Office letting for private clients - 9,110 sq ft (846.4 sq m) 15 Babmaes Street, London SW1 Office letting with change of use to fitness club - 3,290 sq ft (305.7 sq m) Dering Street, London W1 Office and gallery letting for Legal and General Assurance Society 23,000 sq ft (2,136 sq m) Winchester House, Old Marylebone Road, London NW1 Office letting for Rank Group plc 4,510 sq ft (418 sq m) 25 John Street & 17 John s Mews, London WC1 Freehold office sale for private client 5,715 sq ft ( sq m) 9 Argyll Street, London W1 Refurbishment advice and office letting for Legal and General Assurance Society 16 Babmaes Street, London SW1 Offices acquired for Criterion Capital 143 New Bond Street, London W1 Offices acquired for Ayyam Gallery and converted to a gallery 106 New Bond Street, London W1 Office letting for private client 10,000 sq ft (945 sq m) 108 New Bond Street, London W1 Office letting for private client 6 7

6 25-27 Shaftesbury Avenue, London W1 Office letting for private client - 9,500 sq ft (882 sq m) Harmont House, 22 Harley Street, London W1 Medical suite lettings 14 Cavendish Place, London W1 Office acquired for St. Marylebone Property Company 1 Love Lane, London EC2 Refurbishment advice and office letting for Epic UK 9,476 sq ft (880.3 sq m) 7 Praed Street, London W2 Office letting for private client - 5,500 sq ft (510 sq m) 1 Craven Hill, London W2 Office letting for private landlord - 12,000 sq ft (1,115 sq m) Caroline House, High Holborn, London WC1 Offices aqcuired for AWC 1-2 St Andrew s Hill, London EC4 Office acquired for Devbulk London Ltd 78 Cornhill, London EC3 2,050 sq ft (190 sq m) Becket House, 36 Old Jewry, London EC2 Office acquired for Penfield Marine Eastcheap, London EC3 Offices acquired for Information Security Forum 8 9

7 South Molton Street, W1 Acting for landlords we have provided refurbishment advice and arranged office lettings. 16 South Molton Street, London W1 Office letting sq ft (83 sq m) 17 South Molton Street, London W1 Office letting sq ft (83 sq m) 19 South Molton Street, London W1 Office letting - 1,455 sq ft (135 sq m) 21 South Molton Street, London W1 Office letting - 1,800 sq ft (167 sq m) 42 South Molton Street, London W1 Office letting - 1,500 sq ft (139 sq m) 44 South Molton Street, London W1 Office letting sq ft (58.06 sq m) 5, 6, 7 and 9 South Molton Street, London W South Molton Street, London W1 Office lettings 5 South Molton Street sq ft. (37.16 sq m) 6 South Molton Street sq ft. (38.09 sq m) 7 South Molton Street sq ft (38.55 sq m) 9 south Molton Street 1,240 sq ft (115 sq m) Upper parts letting South Molton Street - 4,630 sq ft (430 sq m) 47 South Molton Street, London W1 Office letting - 1,200 sq ft (111 sq m) 54 South Molton Street, London W1 Office letting - 1,660 sq ft (154 sq m) 56a South Molton Street, London W1 Office letting - 1,500 sq ft (139 sq m) 10 11

8 1 Duchess Street, London W1 Office letting for private client Newman Street, London, W1 Office letting for Lazari Investments - 20,160 sq ft (1,873 sq m) Capital House, 25 Chapel Street, London, NW1 Office letting for Epic UK - 70,000 sq ft (6,500 sq m) Grays Inn Road, London WC1 Offices acquired for International Institute for Environment & Development 12,000 sq ft (1,114 sq m) 1 Islington High Street, London N1 Refurbishment advice and office letting for private clients - 8,000 sq ft (743 sq m) 2 Stratford Place, London W1 Office letting for Transport for London 6,300 sq ft (585 sq m) 16 Stratford Place, London W1 Office letting for private clients 5,000 sq ft (465 sq m) Goswell Road, London EC1 Refurbishment advice and office letting to Zaha Hadid Architects - 18,760 sq ft (1,745 sq m) Manning House, 22 Carlisle Place, London SW1 Office letting for Agelef Shipping - 8,000 sq ft (743 sq m) 12 13

9 8 Weymouth Mews, London W1 Refurbishment advice and office letting for The Academy of Medical Sciences 1,510 sq ft (140 sq m) 146 New Cavendish Street, London W1 Office letting for landlord - 4,000 sq ft (372 sq m) Great Queen Street, London WC2 Office acquired for Proteus Digital Health 43 Portland Place, London W1 Refurbishment advice and office letting for Architects Benevolent Society - 10,000 sq ft (929 sq m) 131 & 157 Edgware Road, London W2 Office letting for Criterion Capital 16,000 sq ft (1,486 sq m) Tottenham Court Road, London W1 Offices acquired for BMB Clothing 305 Great Portland Street, London W1 Office letting for Transport for London - 3,900 sq ft (362 sq m) Alhambra House, Charing Cross Road, London WC2 Office letting for Criterion Capital 14,000 sq ft (1,300 sq m) 1 Bell Yard, London WC2 Office letting for private clients Coin House, 2 Gees Court, London W1 Office letting for Bank Leumi 3,215 sq ft (299 sq m) 22 Bruton Street, London W1 Office letting for private client 9,000 sq ft ( sq m) 86 Hatton Garden, London EC1 Office letting for the Industrial Diamond Company - 1,765 sq ft (164 sq m) 157 Piccadilly, London W1 Office letting - 3,500 sq ft (325 sq m) 14 15

10 Marylebone offices, w1 1 Bentinck Street, London W1 Office letting for Howard de Walden Estate 730 sq ft (67.82 sq m) Wigmore Street, London W1 Office letting for Howard de Walden Estate - 5,090 sq ft (473 sq m) 31 Harley Street, London W1 Office building acquired and planning consent obtained for medical use 3,000 sq ft (279 sq m) Wigmore Street, London W1 Office letting for Howard de Walden Estate 1,310 sq ft (121.7 sq m) Marylebone Lane, London W1 Office letting for Howard de Walden Estate 1,749 sq ft (162 sq m) 9 Wimpole Street, London W1 Office letting for Howard de Walden Estate 1,755 sq ft (163 sq m) 53 Queen Anne Street, London W1 Office letting for Antique Wine Company 4,480 sq ft (416 sq m) 83 Marylebone High Street, London W1 Office letting for Howard de Walden Estate sq ft (54.81 sq m) 3 Wimpole Street, London W1 Office letting for Howard de Walden Estate 1,510 sq ft (140 sq m) Thayer Street, London W1 Office letting for Howard de Walden Estate 2,445 sq ft (2,257 sq m) 16 17

11 Refurbishment Projects Below are examples of refurbishments for which we have provided advice and input. 32 Brook Street, London W1 1 Islington High Street, London N1 143 Bond Street, London W1 Office Agency The Central London Office Agency team is headed by Richard Spencer. Richard has in excess of 20 years experience concentrating on the Central London office market. A broad spread of clients includes financial institutions, property companies, private and publicly quoted companies. Meticulous care is taken to understand and fulfil clients requirements for both acquiring and disposing of property. Before Before Before Our Services HNG are an established independent firm of chartered surveyors. We provide comprehensive, expert advice on commercial and residential property. We are dedicated to providing every client with an exceptional level of service. After After After From our central London office in Chandos Street we provide a comprehensive range of property services: s Central London Office Agency s West and South West London Office Agency s Landlord and Tenant s Arbitration s Leasehold Enfranchisement s Rating In tandem with our clients Threadneedle Property Investments the refurbishment of this floor focused on reflecting the spirit of its location. The plastered ceilings, Thorn lighting and big iron casement windows create a bright suite that reflects both the smart Mayfair address and the vibrancy of the pedestrianised shopping destination, South Molton Street, that it overlooks. A comprehensive refurbishment of all five office floors transformed this previously dark and cramped building into a dynamic and progressive working environment. A new, impressive glass fronted entrance to a contemporary reception and the addition of wooden floors and high end finishes throughout mean this historic and prestigious landmark building now looks as good on the inside as it does on the out. Retained to find a new premises for an internationally renowned gallery in a prime location we managed to find a Bond Street address where we took office space and secured a change of use to art gallery. The removal of the suspended ceiling to expose the pipework and the polished poured concrete style flooring create a contemporary, urban feel which perfectly showcases their art. s Commercial and Residential Management s Investment and Development s Commercial and Residential Valuation s Leisure s Property Accounting and Insurance

12 CLIENTs Include A&S Leisure Group AIB GB plc Architects Benevolent Society Bannatyne Fitness Barclaytrust (Suisse) S. A. Bickenhall Mansion Freehold Ltd British Sky Broadcasting City of London Corporation The Clothworkers Company CLSH plc Commercial Estates Group Limited Co-op Pension Fund Coutts and Co Credit and Mercantile Bank plc Credit Suisse Asset Management Criterion Capital Crown Estate Derwent London plc Devbulk London Ltd Development Securities plc Epic UK Girobank plc HDG Limited Hilton Worldwide Howard de Walden Estate HSBC Bank plc Hugh Langmead Limited ING Real Estate Jaegar Group J D Wetherspoon plc LaSalle Investment Management Lazari Investments Legal and General Assurance Society Limited LHA London Ltd London Property Holdings Ltd Maxicorp Group Merchant Investors Assurance Company Limited Mizrahi Tefahot Bank Ltd National Football League National Westminster Bank plc O & C Group The Physiological Society Prime Commercial Properties plc Radisson Edwardian Hotels Rank Group plc Romulus Investments Limited Royal Bank of Scotland Group plc The Royal Borough of Kensington and Chelsea Royal Institution of Chartered Surveyors Southern Properties Limited St Marylebone Property Company plc The Academy of Medical Sciences The Huggler Group Threadneedle Property Investments Limited Transport for London William Pears 20 20

13 7-10 Chandos Street Cavendish Square London W1G 9DQ T