ADDINGTON CAPITAL SECURES NEW LETTING AT 10 FLEET PLACE
Addington Capital, a property investment and asset management specialist has let the seventh floor and a section of the eighth floor of 10 Fleet Place, London to Hogan Lovells International LLP on 26th May.
Hogan Lovells is taking 33,112 sq. ft of total space with 19,858 sq. ft of the whole seventh floor and 13,254 sq. ft on the eighth floor. The rent is £67.50 per sq. ft and has been let on ten year leases with options to break it after year 5. The space is convenient for Hogan Lovells as it is located close to the major pre-let, they have signed on Holborn Viaduct, London.
Ingleby Trice were the acting landlords working on the deal and Cushman & Wakefield for the tenant. This deal comes after Addington Capital’s letting of the nineth floor of the building to Interpath Advisory, an independent financial advisory business, in November 2021. Other tenants include CNBC which was acquired by Comcast and Verizon Group last year and, Mott MacDonald a global engineering consultancy.
10 Fleet Place was acquired by the Crosby Group from Hong Kong in 2015 and is managed by Addington Capital. The office building is a landmark 185,00 sq. ft. In the first six months of 2021, the building went under substantial refurbishment and capex improvements. These changes included a reception upgrade, CAT A finish and the basement area was converted to build changing rooms that contain 17 showers and 167 tenant lockers. They have gained planning consent to create new secure bike storage facilities that will deliver 167 covered bike racks that include electric charging points that are all BCO compliant.
They invested during the pandemic to improve the internal finishes to make the building more attractive to its occupiers said David Dalrymple, Partner at Addington Capital. “Hogan Lovells also wished to be in a building with strong ESG Credentials with a minimum EPC rating of a B. We are glad that the space they are taking meets these criteria,” Dalrymple added.
The building benefits from having great transport links with St Pauls, Thames Link, Blackfriars, Chancery Lane and Farringdon stations all within walking distance. The Elizabeth line at Farringdon opened on 24th May and is now fully operational.
Dalrymple concluded: “We are delighted to have secured this letting to such a prestigious tenant and are looking forward to attracting further high calibre tenants to the building.”
