The JV between Hermes Investment Management, the £30.1 billon manager, and Canada Pension Plan Investment Board (CPPIB), has announced that WeWork has expanded its presence at South Bank Central.
WeWork will be taking a further 23,551 sq ft space on the 6th floor, in addition to the 72,000 sq ft it currently occupies within South Bank Central’s Vivo building, which houses over 1,000 new WeWork members. WeWork has a portfolio of 17 operating locations across London; two of these are located on the South Bank, which is an epicentre for art and culture.
Alongside WeWork, South Bank Central is home to the Racing Post, DNV GL, Black Sheep Coffee, Waitrose, and FluidOne.
Stephen Bradley, Asset Manager at Hermes Investment Management, said: “WeWork is a strong, quality brand offering collaborative workspace within a community environment. Its increased presence at South Bank Central, alongside its Sea Containers House accommodation reaffirms this location as a destination 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. We look forward to announcing further lettings in the near future.”
Patrick Nelson, Executive Vice President of Real Estate at WeWork, commented: “South Bank Central, with its fantastic central location, proximity to cultural centres and transport connections and views over London, has been one of the most popular WeWorkS since opening. We know our members love this location on the South Bank and we’re thrilled to now be able to offer them even more space”.
Union Street Partners and CBRE acted on behalf of Hermes Investment Management.
