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The White Collar Factory is one of Derwent London’s most ambitious schemes to date, the redevelopment of a major corner site at Silicon Roundabout in the Heart of London’s Tech City with provide a new 16 – storey 237,000 sq. ft. office tower incorporating the White Collar Factory concept and campus buildings containing office, retail and residential also a new public square. The landmark building will incorporates innovative and sustainable design with 3.5m high ceilings, concrete core cooling, openable windows and the ability to accommodate flexible occupation. The tower will have a communal roof terrace with a running track and forms part of a new urban campus that is complemented by five low-rise buildings and new public realm. These latter properties provide 39,000 sq. ft. of office space, 9,000 sq. ft. of restaurant and retail space and 8,000 sq. ft. of residential. The scheme, designed by leading architects AHMM, is on schedule and due to complete in Q3 2016.
The Office Group a ‘quirky’ design led serviced office provider has taken the first pre letting on the lower floors for 41,300 sq. ft. along with structural engineers AKT ll who will take 5 floors, 28,400 sq. ft. in the 16 storey office tower. Both have taken 20 year leases at £57.50 psf along with a 24 month rent free period, both leases have compounded annual inflation increases with an annual floor of 2% and a cap of 4% for at least five years which takes the rent to between £63.50 and £70.00 per sq. ft. at first review.
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.