Hermes Investment Management, the £30.8 billion manager, and Canada Pension Plan Investment Board (CPPIB) announce that Racing Post, the British daily racing paper, has taken a 10-year lease at South Bank Central.
The company has agreed to take 15,500 sq ft of office accommodation on the seventh floor at South Bank Central, a unique, mixed-use development on London’s South Bank featuring both office and retail space. The scheme is being delivered as part of a joint venture between Hermes Investment Management and CPPIB.
The announcement follows a letting at the end of last year to shared office space provider WeWork, which took 72,000 sq ft of office accommodation across three floors of South Bank Central’s Vivo building.
Stephen Bradley, Asset Manager, Hermes Investment Management, said: “Racing Post is a strong addition, and further bolsters the impressive occupier mix already in place at South Bank Central. The development offers state-of-the-art offices and retail space, and has been designed to provide tenants with an unrivalled community in a strategic location where businesses can thrive. We look forward to announcing more lettings in the near future.”
Mark Whittaker, Racing Post, added: “The move to South Bank Central is an important step in our ongoing expansion. The area, which is already home to a number of established and impressive names, is the perfect fit for us, offering a vibrant business community, prominent location and highest quality of design and service.”
Racing Post is a media business focused on horseracing, greyhounds, football and sports betting.
The company publishes the only racing and sports betting daily newspaper in the UK and Ireland, also runs multiple award winning websites and mobile betting products together with a growing B2B service focussed on the betting sector.
CBRE and Union Street Partners acted on behalf of Hermes Investment Management.
