A JV between Hermes Investment Management, the £28.6 billon manager focussed on delivering superior, sustainable, risk adjusted returns to its clients – responsibly, and Canada Pension Plan Investment Board (CPPIB), a professional investment management organisation that invests on behalf of 19 million Canada Pension Plan contributors and beneficiaries, has signed WeWork to its South Bank Central development.
WeWork will be taking 72,000 sq ft of office accommodation across three floors of South Bank Central’s Vivo building, which will house over 1,000 new WeWork members. South Bank Central will add to WeWork’s portfolio of 11 operating locations across London, and its second on the South Bank, which is an epicentre for art and culture.
Stephen Bradley, Asset Manager at Hermes Investment Management, said: “WeWork is a strong, quality brand offering collaborative workspace within a community environment. Its presence at South Bank Central, alongside its Sea Containers House accommodation, will allow the company to create an even larger community for likeminded businesses spanning media, technology, and professional services.
“South Bank Central offers state-of-the-art offices and has been designed to offer occupiers a balanced and healthy environment in order to attract the best talent. Following an extensive period of asset management, we are pleased that the remodelling of the building has completed and look forward to announcing further lettings in the near future.”
Patrick Nelson, Head of Real Estate for WeWork in Europe, added: “We are delighted to add another prominent location to our London portfolio, our second on the South Bank where we first opened our doors in London just over two years ago. WeWork South Bank has been a great success and is home to a thriving community, so we’re excited to expand our presence in the neighbourhood with WeWork South Bank Central. The design and quality of this building will help deliver an exceptional experience to our members.”
Union Street Partners and CBRE acted on behalf of Hermes Investment Management.
