A weekly round up of the latest property news from the central London boroughs
EG reports that Kirkbi, the £11.3bn fund managing the wealth of the family behind Lego, has acquired the UK headquarters of Macmillian Publishers in King’s Cross, N1, for £48.5m as it looks to expand its real estate portfolio. The 44,107 sq ft building in Porters Wharf was sold by Derwent London and a private UK investor.
PW reports that Teddy Sagi’s LabTech has made its largest central London acquisition to date with the £200m purchase of 90 High Holborn. The 197,000 sq ft building will provide co-working, living, events, food and entertainment space.
City of London
EG reports that US consulting firm Berkeley Research Group has agreed a deal to set up a new London office on the top floor of Greyciat and Ceyne Capiral’s 8 Salisbury Square, EC4. Berkeley Research Group will pay around £78.50 per sq ft on a 10-year lease for the 12,147 sq ft eighth floor, which comes with a 1,981 sq ft roof terrace.
PW reports that British Land has signed a 15-year lease with UK-founded cyber-security company Mimecast for 79,000 sq ft at 1FA, Broadgate. Mimecast is the largest tech firm to commit to broad gate to date, having taken nearly a third of the total office space at 1FA.
City of Westminster
PW reports that Foot Locker has snapped cup a 13,691 sq ft on on the ground and basement levels at 544-554 Oxford Street for its new ‘global flagship,’ the March Arch underground station. The sports shoe retailer has signed a ten-year lease on the unit, which was previously occupied by KFC and has been refreshed by owners London & Regional and Starwood Capital.
EG reports that LinkedIn is nearing a deal to establish a new London headquarters at Virdis Real Estate’s Ray Building in Farringdon, EC1. The social networking service for professionals is in exclusive talks to lease floors three to seven, totalling 57,500 sq ft, at the redeveloped former Guardian HQ. Quoting rents at the 113,000 sq ft building start at around £70 per sq ft and increase for the higher floors.
PW reports that Hermes Investment Management and Canada Pension Plan Investment Board have signed up to two tenants to South Bank Central. Business solutions firm Civic has taken 14,914 sq ft on a 15-year lease, while gym group 1Rebel has taken a 5,089 sq ft unit on the ground floor.
EG reports that Canary Wharf Group has agreed the first deals at its 5m sq ft mixed-use Wood Wharf. Flexible workspace provider The Office Group will take around 45,000 sq ft at the Water Street mixed-use building, while Ennismore will take around 100,000 sq ft for a 312-bedroom hotel. JLL, CBRE and Cushmore & Wakefield are leasing agents for Wood Wharf.