The Portman Estate has announced two new signings that will occupy four floors at One Great Cumberland Place ahead of its completion in October.
The landmark signings include the appointment of award-winning flexible workspace provider x+why, which will take floors two, three and eight in a move that underlines the Estate’s commitment to sustainability. A pre-let has been agreed with global private markets investment firm Adams Street Partners, which will take the 7th floor occupying c. 7,600 sq ft. Throughout the process, The Portman Estate was represented by Cushman & Wakefield and CBRE, and Adams Street Partners was advised by Carter Jonas.
The re-development of One Great Cumberland Place forms a milestone moment in the regeneration of the Marble Arch and West Oxford Street area. Designed by renowned architect firm AHMM the 59,331 sq ft space has an ultra-modern interior behind a retained art deco façade. Wellbeing is at the heart of the design with large windows flooding each floor with natural light. Sustainable features including green roofs, heat recovery and photovoltaic panels, mean One Great Cumberland Place will deliver ‘Excellent’ BREEAM assessment.
The introduction of x+why to One Great Cumberland Place will provide the first flexible workspace offer to The Portman Estate’s London portfolio. Under a 10-year management agreement, x+why will manage the day-to-day running of the flexible work space on behalf of the Estate. The design takes its inspiration from The Portman Estate’s country and London holdings, with nods to period architecture and an earthy palette reflected in sustainable materials such as cork and Bolon floors which use upcycled plastic. The space will be fully fitted and include three larger ‘enterprise suites’ aimed at medium-sized corporates, and an ‘avenue’ of smaller offices with the design taking inspiration from The Portman Estate’s boutique retail outlets.
x+why have a proven track record of providing high quality flexible workspaces for purpose-driven businesses, with an emphasis on supporting sustainable SMEs and larger Corporates. Placing social and environmental responsibility first, x+why are B Corp certified, creating innovative workplaces that shift mind-sets and change office behaviours to the benefit of future generations.
The eighth floor, which will be known as The Orchard, will be transformed by x+why into an amenity space for occupiers of the building. Alongside meeting and events rooms, a bar space and private dining will be on offer providing stunning views across London. The Orchard will blur the traditionally separate spaces of work and leisure, creating a forward-thinking approach to modern hybrid working.
The Portman Estate and x+why share tightly aligned values on sustainability, ethics and inclusivity. In 2022, The Portman Estate published its Sustainability Action Plan, working in alignment with Bioregional’s One Planet Living framework. The Estate is committed to reaching Net Zero Carbon for all activities between 2030 and 2040, with all office operations already carbon neutral.
Tom Knight, Portfolio Director at The Portman Estate says: “One Great Cumberland Place is a testament to The Portman Estate’s values of preserving heritage whilst safeguarding the future. We are community conscious property owners and this latest development only further supports our sustainability credentials and commitment to Marylebone.
Occupiers like x+why and Adams Street Partners will ensure sustainability remains at the core of the building. It is encouraging that we have agreed this partnership with x+why and a pre-let, which together account for 60% of the office space. We hope that we are able to build similar productive and future-proof relationships with occupiers across a range of sectors. It is critical that we continue to diversify the places and spaces across the Estate to create a thriving community in Marylebone through our partnerships.”
Rupert Dean, CEO of x+why says: “We are incredibly excited to be partnering The Portman Estate on such a landmark building as One Great Cumberland Place. It has been clear from the outset that we are incredibly aligned. With typical long term horizons, Portman have re-purposed the building with great care, and at the same time they have put themselves at the forefront of the re-imagination of the office by including flexible space from the outset and by dedicating the superb 8th floor, and its terraces, as an amenity. With its second-to-none social and convening facilities, The Orchard (8th floor) gives the post pandemic business exactly what it needs to operate in a hybrid way, whilst building and retaining workplace culture, and promoting employee wellbeing. For x+why, the building marks a move to the West End. We expect investment firms, property companies and tech businesses to be amongst our members here and can’t wait to see the impact that we can help them achieve through our purpose driven programmes and events.”
As well as Grade A office space, this landmark development will also bring some of the most impressive flagship retail space available to Marble Arch over the ground, basement and first floors. Floors four, five and six totalling over 24,000 sq ft remain available to let.
