Addington Capital, the property investment and asset management specialist has let the top ninth floor of 10 Fleet Place, London EC4 to Interpath Advisory, the independent financial advisory business which was formed in 2021 following the sale of KPMG’s UK Restructuring business to H.I.G. Capital.
Interpath is taking 13,913 sq. ft. of office space on a ten-year lease, with an option to break after 5 years. The rental level agreed is confidential. The space will become Interpath’s UK headquarters, and be home to its 250-strong London-based team.
The agents are Ingleby Trice for the landlord and C&W for the tenant.
Interpath joins other blue-chip tenants in the building including Mott MacDonald, the global engineering consultancy and CNBC, recently acquired by Comcast and Verizon Group.
10 Fleet Place is a landmark 185,000 sq. ft office building in prime Mid-Town. Addington Capital is the asset manager for the property on behalf of its Hong Kong-based owners who acquired it in 2015.
The letting follows substantial refurbishment and capex improvements at 10 Fleet Place in the first six months of 2021, including a contemporary CAT A finish, reception upgrade and conversion of the basement area to create male and female changing rooms, including 17 showers and 167 tenant lockers. Planning consent has been achieved to create new secure bike storage facilities, delivering 167 covered bike parking racks including electric charging points, which are all BCO compliant. The works also include new external signage and lighting around key entrance points to the building.
The building also benefits from great transport links, with Thames Link, St Pauls, Blackfriars, Farringdon and Chancery Lane stations all located within very close walking distance.
Blair Nimmo, chief executive of Interpath Advisory, said: “In hunting for our new UK headquarters, we were looking for a building which could deliver a state-of-the-art, flexible working environment, right in the heart of the City, where collaboration and innovation can flourish. At 10 Fleet Place, we have found exactly that. We look forward to welcoming our people and our clients to our new home later in the Spring.”
David Dalrymple, Partner at Addington Capital said, “We have invested during the pandemic to vastly improve the internal finishes and amenities at 10 Fleet Place and the changes we are making have made the building significantly more attractive to occupiers. Feedback so far has been very positive.
“Our investment appears to be paying off. We are delighted to secure this letting to Interpath and are looking forward to attracting further high calibre tenants to the building.”
Ingleby Trice will continue to market the building at a rental level of around £69.50 psf. Up to 60,000 sq. ft of CAT A office and 2,905 sq. ft of ground floor retail space is currently available to let.
Interpath Advisory currently has four offices located across the UK in Edinburgh, Reading, Aberdeen and Nottingham. In addition to its new premises in London, a further six offices are set to open in Manchester, Leeds, Birmingham, Glasgow, Bristol and Newcastle over the coming months.
