CIT advised by Compton, BNP Paribas Real Estate and Cushman & Wakefield, has completed three lettings totalling 46,000 sq ft at HYLO, its 260,000 sq ft landmark new development at 105 Bunhill Row in London, EC1.
In the largest transaction, flexible workspace provider, Knotel, has taken 26,500 sq ft on four floors (8th-11th floors) on a new 10-year lease.
Elsewhere, on the 20th and 21st floors, software business Beamery has taken 13,000
sq ft on a 10-year lease and, on the 16th floor, PRO Unlimited Global has taken a 5-year lease on 6,500 sq ft.
The transactions were concluded at annual rents between £70.00 and £90.00 per square foot. A further 15,000 sq ft of space is currently under offer, with several other live negotiations ongoing.
Toby Croft, Partner, of CIT said: “HYLO was generating a great deal of interest from occupiers before it was completed at the end of last year, culminating in these first lettings. Our concept was to provide flexible and modern office accommodation that reflected the demands of modern businesses, and these initial lettings underline the success of this approach.”
Elliott Stern of Compton said: “HYLO is a key London development that has been designed to reflect the unique culture of the area and the nature of the creative and innovative businesses that dominate the market.
“By utilising the existing substructure, CIT has produced one of the most sustainable and exciting new buildings in the capital that provides smart workspace with superb connectivity. These transactions confirm that it is a modern workplace where people and businesses want to be,” he added.
Tim Williams of BNP Paribas Real Estate commented: “We are all very pleased to close lettings at HYLO to Knotel, Beamery and PRO Unlimited, who represent the exact occupier clientele we are seeking for this unique building. I’m certain their businesses will continue to flourish as they enjoy the benefits of occupying HYLO and its fantastic amenities.”
Cushman & Wakefield’s Tim Plumbe said: “The recent commitment from a number of occupiers is testament to the strong sustainability credentials and the plethora of tenant amenities available at HYLO. The exceptional quality building that CIT has delivered ensures HYLO appeals to a wide range of sectors and footloose occupiers, and we are looking forward to announcing further successful lettings soon.”