A joint venture between Landid and Brockton Capital (“the Landid/Brockton JV”) has reached an agreement with international media company A+E Networks and software group Kambi, listed on the Swedish stock exchange, to take space in the partnership’s Hammersmith development, One Queen Caroline Street.
A+E Networks, home of international channel brands including HISTORY®, A&E®, Lifetime, Crime + Investigation® and H2® has agreed a 15-year lease on the entire 5th floor, taking 20,000 sq ft, whilst Kambi has taken 13,000 sq ft of the 3rd floor on a 10-year lease at £54/ sq ft.
The refurbishment of the 82,000 sq ft building was completed late last year, continuing the Landid/Brockton strategy of transforming tired office blocks into a modern, exciting workspace for occupiers wanting to enhance business performance. The plans meant a complete overhaul of 1QCS’s interior, plus an extensive new roof terrace that offers panoramic views of West London. The building is located directly above Hammersmith tube station and close to an abundance of local amenities. Just over 47,000 sq ft of space remains available to let, of which 11,000 sq ft is under offer.
As the most active office developer in the Western Corridor, the Landid/Brockton JV combines excellent contemporary design, character, connectivity and sustainability in its investments, to optimise environment and value for their occupiers.
Kambi’s agent and project manager for its relocation, Alex Peers of Peers Partners, commented:
“Kambi wanted some more creative space and were attracted to the scheme’s exposed services and high level of finishes. Landid/Brockton agreed terms and completed the deal in just three weeks, which shows they are serious landlords that listen to occupier needs. Kambi plans to move into the space within the next three months and is looking forward to a state-of-the-art new office for their staff and clients.”
Trevor Silver, Managing Director of Landid, said:
“We are delighted to welcome both A+E Networks and Kambi to One Queen Caroline Street. Hammersmith is a great, amenity-rich location, with easy access to the rest of London. Our repositioning strategy has created a contemporary office environment with enduring occupier appeal.”
Tony Edgley, Partner at Brockton Capital LLP, said:
“One Queen Caroline Street perfectly captures our strategy to create institutional quality investments from overlooked or redundant assets, which can respond to the needs of next generation occupiers. To compete in today’s market, landlords need the skills to create a community within an urban office setting, providing the right blend of value, design, connectivity, sustainability and character.”
Dean Possenniskie, Managing Director, EMEA, of A+E Networks, said: “We are proud to create a new space that truly represents the scale, creativity and ambition of A+E Networks, in a growing media centre in London.”
The Landid/Brockton JV is looking to commit up to £250m to acquire similar investment opportunities, in the Western Corridor, Greater London and selected UK cities. It is currently developing three major office buildings: The Charter Building, Uxbridge; Thames Tower, Reading; and The Porter Building, Slough, all of which are due for completion between Q4 2016 and Q3 2017.
JLL and Colliers International are the letting agents for One Queen Caroline Street. DeVono represented A+E Networks and Peers Partners represented Kambi.
