A weekly round up of the latest planning and property news from the Central London boroughs.

Camden 

EG reports that Time Out has agreed a deal for a new London HQ at Squire & Partners former offices at 77 Wicklow Street, WC1. The media company will take 18,000 sq ft at £47.50 per st ft. Monmouth Dean was instructed earlier this year to find Time Out a new office ahead of its relocation from Almacantar’s 125 Shaftesbury Avenue, WC2, where WeWork has agreed to take 140,000 sq ft.

EG reports that Brockton Capital has put the Centro Building in Camden, NW1, up for sale for £83m – a 5.22% yield. Savills will market the block, which is occupied by Hugo Boss, Piercy & Co, Rocket Dog and French Connection. The 85,000 sq ft building has undergone significant asset management since Brockton bought it for £64m in 2015.

PW reports that NFU Mutual has launched Maple + Midford, a 20,000 sq ft office scheme in Fitzrovia, London, following a £5m refurbishment. NFU Mutual purchased the building in 2015 and has since redevelopment the façade, configuration, floor plate and amenities, including incorporating dual access to the building via Maple Street and Midford Place. The building is arranged over three upper floors and includes a new retail unit on the ground floor, which is accessible from reception as well as via Maple Street. There is also a new roof terrace on the 3rd floor. Joint leasing agents Colliers International and Cushman & Wakefield are quoting a rent equating to £82.50/sq ft.

PW reports that King’s Cross Limited Partnership (KCCLP) has received the green light from Camden Council to build a new 11-storey office building to pair up with the Google pre-let S2 in Handyside Street. The new neighbouring tower, S1, will provide a total of 196,284 sq ft of Grade A office space set over ground and ten upper floors with floorplates ranging from 1,700 to 2,500 sq ft. Designed by the same architects who designed Google’s space in S2, Mossessian Architecture, the S1 building will feature flexible open-plan office layouts while two levels – 7 and 10 – will be equipped with their own large terraces alongside the landscaped roof terrace on the communal 11th floor. Construction will commence immediately with completion due in 2019. At ground level, S1 features a double-height reception lobby and will provide restaurant or retail space.

City of London

EG reports that Brookfield Property Partners has instructed  Eastdil Secured and GM Real Estate to advise on a potential sale of a 40% stake in 100 Bishopsgate, EC2,  for £700m – a net initial yield of 4%. The 962,000 sq ft tower is due to complete in 2018. Most of the building is already let and Brookfield is expected to begin testing the investment market this year before formally launching the sale early next year. 

EG reports that independent Scottish craft brewer BrewDog is opening its first BrewPub in London. The brewer has agreed a deal with Ivanhoe Cambridge for a bar with an on-site microbrewery at the refurbished Minster Building on the corner of Great Tower Street and Mark Lane, EC3. The 8,500 sq ft space will be a 400-person capacity venue, which will serve small-batch, seasonal beers. BNP Paribas Real Estate advised BrewDog. Dibley Property and Nash Bond advised the landlord.

PW reports that co-working giant WeWork has agreed a deal to buy Devonshire Square, in the City of London, for around £600m. it would be its second major real estate buy after the company last week announced plans to splash $850m on the purchase of the Lord & Taylor building in Manhattan. The 12-building campus that makes up Devonshire Square totals 620,000 sq ft and is located close to Liverpool Street station. WeWork will take over the management of the 5-acre estate and will occupy the vacant space. It has appointed Eastdil Secured to source credit to finance the purchase.

PW reports that high-tech healthy eating restaurant Vita Mojo has signed for a new headquarters in the City of London. It has taken a 3,500 sq ft unit store with offices and a training facility at 46 Gresham Street, on a 20-year lease for £125,000 per year. The store is due to open in January 2018. The landlord was represented by Shelley Sandzer.

Hackney 

PW reports that Mindspace, the workspace provider, is set to open its second co-working property in London situated at 9 Appold Street in Shoreditch. Following the opening of its first London location earlier this year, the second Mindspace location will span two floors and over 40,500 sq ft, accommodating 900 people. Kontor advised Mindspace on the deal.

Royal Borough of Kensington and Chelsea

PW reports that Queensway and Clearbell Capital have bought The Sloane Club in Chelsea from Caledonia Investments for £80.6m. The private members club has around 3,700 members and occupies 75,000 sq ft close to Sloane Square. Facilities include lounges, dining areas, a bar, meeting rooms, a spa, and more than 130 bedrooms. Queensway will oversee management and development of the property on behalf of a joint venture between JK Chelsea Holdings, an affiliate of Queensway, and a fund managed by Clearbell. The club’s management staff will be retained.