Tishman Speyer welcomes Ipsen Biopharm to fully electric The Point, Paddington

Tishman Speyer, one of the world’s leading developers, owners, operators and investment managers of first-class real estate, has announced the signing of a new lease with global pharmaceutical company Ipsen Biopharm at The Point in Paddington. The firm also announced that the building has earned an EPC B rating.

Ipsen Biopharm’s commitment to take 18,000 sq. ft of space is further testament to the many qualities of this premium property and takes The Point to 98% occupancy, leaving c.4,900 sq. ft readily available. During 2023, listed Alpha Group and Mitsubishi Power Europe also signed new leases for a total of 35,000 sq.ft.

Tishman Speyer has further enhanced the property’s environmental credentials by replacing its old gas boilers with electric heat pumps, a step that has secured an EPC B rating for the building. All of The Point’s electricity is now derived from renewable sources, futureproofing the asset’s attractiveness as and when future floors will become available.

Under Tishman Speyer’s ownership, The Point has been continuously improved including through the addition of a communal roof terrace featuring extensive landscaping, a new lounge at ground level with an independent coffee bar and a high-end gym reserved for customers of the building. The roof terrace also hosts a colony of honeybees that will produce an estimated annual 300 jars of The Point honey to be distributed to customers.

As the gateway of Paddington Basin, The Point is a striking office building located in one of London’s most thriving hubs. Designed by Sir Terry Farrell and completed in 2003, the elegant, modern design is inspired by a ship’s prow and follows the curvature of the historic Grand Union Canal that is directly adjacent. The Point is also home to businesses including IQVIA, PA Media, Addison Lee, Dun & Bradstreet and FirstGroup.

Martin Simonneau, Managing Director and Head of Tishman Speyer’s U.K. business, commented: “The Point has once again demonstrated its winning appeal to high-calibre customers and we’re delighted to welcome Ipsen Biopharm to our vibrant community. And the newly awarded EPC B rating is further testament to our successful transformation of this premium property and enduring commitment to ESG.”

Cushman & Wakefield and Avison Young acted as joint agents on the building.