Kinrise has announced the acquisition of two new properties in the UK, bringing its portfolio of buildings to 11 and a total of 500,000 sq ft of creative office, retail and leisure space. The hybrid workspace provider completed on 49 East Road, London earlier this month, marking the firm’s much-anticipated arrival in the capital. The acquisition was shortly followed by 1-3 Trevelyan Square in Leeds, Kinrise’s second investment in the city which joins existing properties in Birmingham, Manchester and Liverpool.
Strategically located in the centre of London’s technology and creative district, 49 East Road occupies a corner plot comprising two interconnected former Victorian warehouses totalling 34,198 sq ft of office space. After searching for the past two years, Kinrise acquired the building for £25million, with Burlington Green Partners advising them on the purchase.
Sam Lawson Johnston, co-founder of Kinrise, comments, “We are delighted to announce the acquisition of our very first property in London. This characterful former warehouse is a natural fit for our portfolio, offering a central location north of Silicon Roundabout, great natural light and volume of space; elements synonymous with all of our properties. We plan to apply the signature Kinrise design ethos, stripping back the modern decoration to reveal and showcase striking Victorian roots. We will be upgrading the building into a Grade A office space full of character, occupying an enviable location in the heart of one of London’s most dynamic districts.“
Kinrise has also announced the purchase of 1-3 Trevelyan Square in Leeds, split across 1 Trevelyan Square, a seven-storey 53,688 sq.ft. building, and Ambler House at 2-3 Trevelyan Square, which offers 19,890 sq.ft of newly refurbished, high specification office space behind a Grade II listed façade. The freehold city centre site was acquired for £15.275m, with Knight Frank advising Kinrise on the purchase.
With plans to transform both buildings, Kinrise is committed to upgrading and enhancing 3.5 acres of the city centre, including the public square for all to enjoy. Visitors and tenants will also benefit from the site’s mature trees and greenery, quite rare and much needed in Leeds city centre. The site joins 34 Boar Lane, Kinrise’s environmentally-friendly workspace, to expand the firm’s footprint in the Yorkshire city.
George Aberdeen, co-founder of Kinrise adds; “We believe strongly that doing business the right way can positively impact people’s lives and we are proud to have created Kinrise with this in mind. We have successfully brought character, design, life and soul to good investments and seen the enthusiasm with which our spaces are received by tenant companies. This year, our mission has been to expand into other high-growth work and cultural hubs and our move into London demonstrates our confidence in the city’s resilience following a challenging 20 months. We are proud to have doubled the size of our property portfolio over that time, with new sites in Liverpool and Birmingham as well as Leeds and London. We are looking forward to the year ahead and are currently looking at further sites across cities such as Bristol and Brighton.”
