Global insurance intermediary group Howden has agreed a significant lease regear at One Creechurch Place, EC3 underscoring its long-term commitment to the City of London for its global headquarters.
The deal, led by asset manager FORM Real Estate on behalf of landlord, the Healthcare of Ontario Pension Plan (HOOPP) with Knight Frank as agent, will see Howden expand its existing footprint from 197,000 sq ft to 230,000 sq ft and includes a commitment to occupy the entire building – comprising 275,000 sq ft of Grade A office space over 17 floors – as remaining space becomes available. Adjacent Creechurch House provides Howden with the potential to establish a campus headquarters for its fast-growing global business.
Working in partnership with Howden, FORM Real Estate will oversee the refurbishment of the ground floor entrance and reception area and on-floor amenities, alongside delivering a comprehensive energy optimisation plan
Nick Moldon (Managing Director) of FORM Real Estate comments, “Delivering value in a challenging market requires an absolute focus on collaboration with a true partnership approach to secure the right outcomes. As a result of this alignment, we have been able to provide a highly valued occupier with continuity and the opportunity to meet their own growth ambitions, while securing long-term value with stabilised income and future-proofing the asset through refurbishment and energy optimisation.”
Dee Liyanwela (Group Head of Corporate Services) at Howden comments, “Our strategy has always been centred around growth and investing in our talent, and the City of London is where we see our future. This deal enables continuity for our headquarters in this prestigious location, alongside the opportunity to expand further and in time create our own campus environment that can fuel our growth, and become a hub for our talented, global team.”
Completed in 2016, the Sheppard Robson-designed One Creechurch Place provides 275,000 sq ft of Grade A office space over 17 floors with a landscaped courtyard and double height entrance on ground. Located on the edge of the City Tower Cluster between Mitre Street and Dukes Place, One Creechurch Place is well served by transport links with close proximity to Liverpool Street Station, Fenchurch Street Station and Aldgate Station.
Howden has been in occupation at One Creechurch Place since 2017, and over the years has expanded its footprint from its original 132,000sq ft taking additional floors to meet ambitious growth plans.
FORM Real Estate was appointed by HOOPP in 2023 to deliver the lease regear and asset management strategy and coordinate the roll out of capital projects and sustainability enhancements to the building.
Knight Frank acted on behalf of HOOPP and Savills acted on behalf of Howden in the deal.
