Stanhope and the Swiss Investment Foundation AFIAA have announced that the financial and professional services firm Smith & Williamson has agreed to move its London headquarters to the ground to fifth floors of Gresham St Paul’s, a new green office building on Gresham Street with fantastic views of St Paul’s.
Smith & Williamson will be relocating from their existing offices at 10 and 25 Moorgate in the City of London to the new high quality office space, which has a practical completion date of Q3 2020.
Bardo Magel, AFIAA Head of Asset Management International, said; “The early letting to Smith and Williamson underpins AFIAA’s strong belief in London as Europe’s leading financial centre and rewards AFIAA’s trust in London’s real estate and leasing market, strong economy and professional business partners.
“By redeveloping Gresham St Pauls, AFIAA is offering top premises to top corporate tenants and providing outstanding long term added value to its investors.”
Kevin Darvishi, Leasing Director at Stanhope, said: “We look forward to welcoming Smith & Williamson to Gresham St Paul’s, a sustainable development which will provide a light and air-filled state-of-the art working environment.
“The fantastic facilities within the building, including the Wi-Fi enabled café, reception and business lounge on the ground floor, will provide an enhanced occupier experience and further bolster the City of London’s reputation as a global centre.”
David Cobb and Kevin Stopps, Co-Chief Executives at Smith & Williamson, said: “This is great news for Smith & Williamson and is a significant milestone for our business that aligns fully with our long-term growth ambitions.”
“The decision to relocate in London is one we have considered extremely carefully but, after a rigorous assessment and having given careful consideration to the needs of both our people and our clients, our Board is confident it is the right one for Smith & Williamson.”
“Our new home on Gresham Street will provide a first-class experience for our clients and our people alike and ensures we will all benefit from a modern, sustainable working environment in the heart of the City of London for many years to come.”
Gresham St Paul’s at 40 Gresham Street in the City of London includes approximately 170,000 sq. ft. of prime office space over nine floors, with large terraces on the top three floors. Targeting a BREEAM Excellent sustainability rating, the design, by Stirling Prize winning architects Wilkinson Eyre, has focused on creating a sustainable building for the future by reusing the existing structure. They have looked to maximise natural light through use of the latest glazing technology, and increase fresh air supply to offer a light and air-filled state-of-the-art working environment.
To help cater to modern working practices and promote personal well-being, the ground floor has been designed to provide occupiers with a range of amenities, including a café and business lounge. These will help promote creativity and collaboration amongst occupiers by offering a space to recharge, interact and seek inspiration away from the desk. With a Wiredscore Platinum rating, the building boasts the very best in digital infrastructure, as well as state of the art occupier amenities.
The area around Gresham St Paul’s offers round-the-clock amenities to suit every lifestyle from speciality coffee and craft beer pubs to sophisticated restaurants and bars, as well as innovative health and fitness centres located nearby. The design responds to the changing environment and mix of occupiers in the City, which remains the Global Banking and Finance epicentre but is now also home to one-in-twelve tech, media and telecoms businesses, and a young workforce with 61% aged between 22 and 39.
Gresham St Paul’s is the first development project AFIAA has partnered with Stanhope on – Stanhope were the developers of the original building on the site. Construction commenced in March 2019 at the former headquarters of Schroders to modernise and upgrade the building for occupancy by the autumn of 2020 with 2 retail units and a café open to the public on the ground floor.
Cushman & Wakefield are acting as leasing agents for the building.