The fastest growing new district in the capital has announced a strong start to 2014.
London Bridge Quarter, the fastest growing new district in the Capital, has announced a strong start to 2014, letting almost 600,000 sq ft of office space.
London Bridge Quarter overall is now more than 65% leased, just a year after Boris Johnson officially opened its doors to the public. Almost 600,000 sq ft of the office space is now let across the estate, with additional advanced discussions underway with a number of further occupiers.
News UK has taken a 30-year lease for The Shard's sister building The Place at London Bridge Quarter - the state-of-the-art 430,000 sq ft. office building directly opposite The Shard and London Bridge Station, designed by Shard-architect Renzo Piano. The Place at London Bridge Quarter will become home to a host of high profile media brands such as The Times, The Sunday Times, the Sun, Dow Jones Wall Street Journal and HarperCollins. Around 3,500 - 4,000 staff from these businesses will start moving into London Bridge Quarter from this summer.
The Shard, today confirms six additional tenants, equating to 170,000 sq ft (30%) of office space now let. The Shard is now half full.
Existing Shard tenants include fashionable restaurants Oblix, Aqua Shard and Hutong at levels 31-33, the soon to open five-star Shangri-La Hotel at levels 34-52, popular visitor attraction The View from The Shard at 68-72 and M&S Simply Food and Cafe Nero at station concourse level. Six new tenants comprise a mix of international businesses across a variety of sectors - media, leisure, hospitality, retail, banking, energy, law, and venture capital. This is aligned to its strategy of creating a diverse, vibrant and prosperous business and visitor community that is sustainable over the long term, and makes a significant contribution to London's role on the international stage.
Six companies have leased space:
New York-based investment bank Duff & Phelps already occupy 17,500 sq ft. on level 14 at The Shard
International media group Al Jazeera are fitting out 27,700 sq ft. of studio and office space on level 16 at The Shard, and plan to commence broadcasting from late summer
Intellectual Property Lawyers Mathys & Squire are fitting out 28,400 sq ft. of space on level 15 of The Shard, to occupy from late spring
Energy company South Hook Gas has leased 15,000 sq ft on level 28
Venture capital group Foresight has leased 9,500 sq ft on level 17, with plans to be in occupation later this year
The world's largest hospital group HCA will occupy 70,000 sq ft. on levels 4, 5 and 6 of the Shard, with plans to commence fit out works later this year
Irvine Sellar, Vice Chairman of REM, and Michael Baker Chief Executive Officer of REM commented, "Following its one year anniversary we are proud to say that The Shard has become not only a celebrated part of London's skyline but also a popular business, tourist and dining destination".
Neil Prime, Lead Director -UK Office Agency, Jones Lang LaSalle commented: "The strategy for the Shard has always been to attract a community of different sector occupiers at best rents, and as such we remained patient through the downturn of the market to protect the integrity of the asset. With the market picking up at the end of 2013, we are seeing the expected and significant increase in enquiries and visits, and have been able to secure some fantastic tenants at the top, mid and lower levels of the building. The variety of rental levels, quality design and flexible floor plates make the Shard an incredibly attractive proposition, with rents achieved now comparable with other premium assets in more established prime London estates such as Victoria and Kings Cross, which demonstrates the attractiveness of the offer".
Dan Gaunt, Head of City Leasing of Knight Frank commented, "Interestingly, News UK's decision to relocate its high profile media and publishing brands to London Bridge Quarter this summer has created a substantial media village in the area - alongside News UK's brands, Al Jazeera will commence broadcasting from The Shard this summer, the FT and IPC media giants are already close by, and an increasing number of PR and advertising agencies are emerging. This can only strengthen the area's popularity and attractiveness to the worker community."