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The 317, 000 sq. ft. Aldgate Tower development has been handed another boost with news that TAG Worldwide, the global branding services company, will be taking approximately 40,000 sq. ft. in the newly completed development. Formally, TAG Worldwide are the first tenant to commit to taking space. However, other major companies including BskyB (30,000 sq. ft.), Uber (40,000 sq. ft.) and the Maersk Group (20,000 sq. ft.) have all been linked with occupying space in one of East London’s newest and most attractive developments. The diversification of tenants shows the attraction that Aldgate Tower holds – good news for the Irish developer-investor Aldgate Developments. Aldgate, which will benefit from Crossrail in a few years’ time, is regarded as one of London’s new digital and creative areas, not unlike Shoreditch’s rise to prominence 5-6 years ago.
Oliver Salter, surveyor at Morgan Pryce, believes that companies are now seeing the attraction in moving to other areas in East London,
“With the boom of Shoreditch, space in the East is not too much cheaper than central, midtown and west end. However, Aldgate is an example of how the boundaries are spreading in terms of where companies are willing to consider. 5-6-7 years ago Aldgate would never have been an option, but now established companies like TAG Worldwide & BskyB and reasonably new, but growing companies like Uber are looking to Aldgate as a location to set up shop.”
The news that TAG Worldwide have chosen to take space in Aldgate Tower may well be the catalyst for more of the rumoured companies to take the plunge and move out East.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.