M&G Real Estate, a financial solutions provider for real estate investors, has signed a new deal with WeWork at 1 Waterhouse Square in London, also known as Holborn Bars. WeWork, the workspace global network, is set to occupy one of the most iconic office buildings in London. The building served as Prudential’s headquarters at the beginning of the twentieth century and has been in M&G Real Estate’s portfolio ever since.
Holborn Bars, built in 1901 and designed by Alfred Waterhouse, the architect behind the National History Museum, is home to several high profile occupiers including ITV and Weber Shandwick. The building, which boasts a large, open space in the Victorian central courtyard, has recently won the bronze award for Best Historic Venue at the 2018 National Venue Awards.
Located in the heart of Holborn, adjacent to Chancery Lane tube station. It is one of the most sought-after locations for businesses establishing a presence in London. This is reflected by the calibre of businesses and tech giants attracted to the area, including Amazon and more recently, LinkedIn.
WeWork designs and builds physical and virtual spaces and office services for entrepreneurs and companies around the world. With a presence in 22 countries, the company looks to create work environments for creativity, focus and connection.
William Badger, Asset Manager at M&G Real Estate, comments: “The charm and appeal of this unique office building continues to grow, with most modern occupiers now looking for a workspace with character. The buzz and variety of nearby amenities along Leather Lane is a key attraction, and with the new Crossrail station at Farringdon set to open at the end of the year. This will further enhance what is already one of the best connected business hubs in the country.
“It is great to see this historic landmark becoming a hub for technology and innovation. Offering flexible and shared office space is a growing global trend, and these new facilities by WeWork will provide an ideal platform for start-ups and SMEs looking to work among the existing in Holborn.”
Patrick Nelson, Head of Real Estate for EMEA and Australia at WeWork adds: “45 percent of WeWork member companies say that WeWork helped accelerate their growth, and one of the driving factors of this is the locality of our chosen locations.
“Our current buildings around Holborn have proven to be incredibly successful; the area, being such a central location in terms of transport, amenities and businesses, has been very beneficial for our current members, including large enterprise companies wanting to be more central. We’re thrilled to be expanding here and look forward to welcoming new members and continue to grow our community in London.”
