Bow Bells in the City of London is now fully let, seven months after the completion of a comprehensive retrofit. The 145,000 sq ft office building is owned by Taiwan-based Fubon Life Insurance Company, with PATRIZIA acting as investment manager and Fabrix as Development and Leasing Manager.
The latest agreement, covering 72,000 sq ft across the first three floors, follows an earlier pre-let to law firm Bristows, which has taken the upper four floors for its new headquarters.
Working on behalf of Fubon Life, PATRIZIA and Fabrix worked closely to deliver an investment and development strategy for Bow Bells to improve the building’s environmental performance and occupier experience and reposition the asset for the evolving requirements of the City office market.
Clive Nichol, Managing Partner of Fabrix, commented:
“Bow Bells is an exceptional building in an unrivalled City location, and the speed of the lease-up is a strong endorsement of the approach we have taken with Fubon and Patrizia to its comprehensive retrofit. To have fully let the building within seven months of completion is apowerful validation of our strategy, creating a high quality, relevant offer shaped around what today’s occupiers want.
“Around 18 months ago, we saw an opportunity to bring the experience within our team to owners of office buildings that need specialist expertise to unlock their potential. Bow Bells demonstrates what that model can deliver. As Development and Leasing Manager, we have brought together investment, design, delivery and leasing expertise around a clear strategy for the asset. We see significant potential to apply that expertise to other assets.”
Ker Gilchrist, Head of Investment Management UK at PATRIZIA, commented
“The leasing of Bow Bells is an important milestone in the repositioning of the asset. Our focus has been on ensuring the building responds to changing occupier requirements while improving its environmental performance.”
The nine-month renewal programme has delivered an all-electric workplace with upgraded reception and communal areas, enhanced end-of-journey facilities and landscaped terraces. The building provides 150 cycle spaces and additional showers, while a communal terrace on level five overlooks St Mary-le-Bow Church and Bow Churchyard.
The rich history and character of Bow Churchyard has been reflected in the building through the use of materials, texture and planting. The design works with the building’s existing architectural palette to create a warmer and more inviting workplace, and incorporates reuse.
Bow Bells is located on Cheapside in the heart of the City of London, between Bank and St Paul’s Underground stations and within walking distance of Cannon Street and City Thameslink stations. The building sits adjacent to St Mary-le-Bow Church, home to the Bow Bells of Cockney legend.
The project team included White Red Architects, Arup, Harris Bugg Studio and design and build contractor Ikon. Knight Frank and Newmark acted as leasing agents.