Bloom, the ultra-urban industrial investor and developer, and TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, have secured a series of lettings in their ultra-urban industrial portfolio in central London at rents of around £40/sq ft.
The letting transactions with five companies total 38,000 sq ft and were agreed on a range of lease lengths from 5 to 15 years.
At Bloom Brixton on Brixton Hill, Thomas Franks, the contract catering company, has taken the 7,877 sq ft unit A, which is the largest of the five new-build, double-storey units. At Bloom Hackney, Fuse Energy has taken 4,635 sq ft. Both of these businesses intend to use the space as their office headquarters as well as for typical warehouse operations.
At Bloom Park Royal, an estate in Eldon Way which has been refurbished, Klyk, which helps businesses adopt sustainable IT, has taken the 2,968 sq ft unit 12 and Isembard, which makes and repairs high-precision metal and composite parts, has signed for the 2,198 sq ft unit 7. All 12 units at the estate are now let.
At Bloom Poplar next to Canary Wharf, another estate that has been refurbished and boasts enhanced power capacity and data connectivity, Colt Technology Services, the digital infrastructure company, has signed a number of lease renewals and lease regears on 20,256 sq ft of space.
Bloom and TPG Angelo Gordon own seven London ultra-urban industrial assets in Brixton, Greenwich, Hackney, Fulham, Camberwell, Park Royal and Poplar, which were a mix of refurbishment and ground-up development projects. These seven assets provide approximately 285,000 square feet of high quality multi-let industrial and business space with strong sustainability credentials – earning EPC ratings of ‘A’ or ‘A+’ and BREEAM ratings of ‘Very Good’, ‘Excellent’, or ‘Outstanding’ – in TfL Zones 2 and 3. Refurbishment and development work on all seven assets has just been completed.
Sam McGirr, co-founder and partner of Bloom, said: “These lettings reflect the appeal of our design-led, highly sustainable industrial units, which are severely lacking in inner London. Our ethos is to reimagine urban warehousing to support the changing needs of businesses and consumers, who are seeking speed and convenience”.
Bloom and TPG Angelo Gordon’s letting agents are Cogent Real Estate and Levy Real Estate at Bloom Brixton, JLL and Logix Property at Bloom Park Royal, and Gerald Eve and Glenny at Bloom Poplar.
