Mitsui Fudosan UK (‘Mitsui Fudosan’) and development partner Stanhope plc have completed a major letting to Prudential plc, which will see the international financial services group move its headquarters to the partnership’s 300,000 sq ft Angel Court building in the heart of the City.
The deal sees Prudential sign for 60,000 sq ft of space on a long-term lease, taking Angel Court to over 80 per cent let, within 12 months of completion.
The news follows a round of lettings, comprising over 30,000 sq ft, announced at Angel Court in late 2017, which saw Petrobras Europe Limited (PEL), Delphi Technologies and ConocoPhillips all relocate their headquarters to the building.
The tower building is now home to a hugely varied tenant line-up covering sectors including financial services, healthcare, consultancy and transport and houses renowned restaurants Coya and Temper on the ground floor, cementing the scheme’s reputation as a highly sought-after office destination within Central London. The last remaining floors range between 4,300 sq ft and 8,800 sq ft and offer an unrivalled location next to the Bank of England.
Commenting on the latest round of deals, Eiichiro Onozawa, Managing Director of Mitsui Fudosan (UK) Ltd, said:
“Angel Court continues to prove a hugely attractive proposition for businesses across all sectors of the occupier market, both across London and further afield, and we are delighted that since completing in March last year the building is already over 80 per cent let. Prudential choosing to move its headquarters to Angel Court is a further testament to the quality of the scheme that we have curated in partnership with Stanhope, and we look forward to welcoming Prudential to the building in due course.”
David Camp, Chief Executive of Stanhope plc, added:
“Angel Court’s attractive design, unrivalled location and comprehensive leisure offer, have enabled us to drive significant momentum within the occupier market over the last year. This latest deal confirms the building’s position as a true headquarter hub in the heart of the city and we are confident that we will continue to substantial interest over the rest of this year.”
A hugely significant building for the City occupier market, Angel Court was one of only two towers to complete in the Square Mile in 2017. Boasting uninterrupted 360-degree views of the City skyline, the scheme provides high quality office space in the heart of the City of London. Angel Court was designed by Fletcher Priest Architects, with Waterman Group appointed as multidiscipline engineering consultants.
In November, Mitsui Fudosan and Stanhope also announced the launch of a Wi-Fi enabled communal business lounge and 7,000 sq ft garden terrace on the seventh floor, available for all occupiers to use, The lounge is the first of its kind and houses a café serving food and drinks during normal working hours, as well as providing modern communal workspace and access to the large south-facing garden on the seventh floor.
Cushman & Wakefield, GMRE and JLL acted for Mitsui Fudosan UK and Stanhope, while Gerald Eve represented Prudential.