HB Reavis secures new Shoreditch acquisition and successful diverse workspaces at 20 Farringdon Street attracts buyer
International workspace provider HB Reavis has today, 3 June 2020, announced the sale of its innovative 20 Farringdon Street development to a private investor. Within the same period, the pioneering developer has also acquired a prime development site in Shoreditch to further its development pipeline and commitment to the UK market.
In parallel with the sale of 20 Farringdon Street and reaffirming its commitment to the London market, HB Reavis strides into Shoreditch with its latest acquisition of Quick & Tower House, a c.135,000 sq ft commercial redevelopment opportunity.
Located on the prominent corner location of Worship Street and Clifton Street, the development will be accessed via a new public square within walking distance of Shoreditch High Street, Old Street and Liverpool Street stations.
Construction works are earmarked to commence in early 2021 with HB Reavis aspiring to create a vibrant workspace appealing to companies wanting to immerse themselves in Shoreditch’s creative neighbourhood.
HB Reavis will approach the project with a clear focus on sustainability, wellbeing and the adoption of innovative workspace technology.
Since its completion in 2018, 20 Farringdon Street has been fully leased by HB Reavis and is home to a thriving business community including HB Reavis’ own co-work concept HubHub, as well as The Berkeley Partnership and TMF Group.
HB Reavis has applied its unique and proven approach to creating diverse workspace offerings to suit all business types: from co-work spaces for start-ups, plug and play spaces, through to traditional leases for larger corporates.
The high-quality designed project realises its value through the sale to a private investor in the first transaction of this scale to complete in the post-lockdown period, demonstrating the appeal of the project’s innovative approach to leasing and the continued demand for such London assets.
20 Farringdon Street saw the developer’s co-work concept, HubHub, debut in London in early 2019. Testament to its London success and in its 8th international location, HubHub continues with business as usual and remains fully operational across 34,000 sq ft of flexible workspace, offering its programmed community events.
Looking ahead, HB Reavis‘ plans continue positively for 2020.
HB Reavis will continue to demonstrate its ‘workspace as a service’ approach, including its tech and sensory platform Symbiosy, to foster improved employee wellbeing, collaboration and effective energy management.
The developer’s current project, Bloom Clerkenwell is ready to return to construction site in early June, following a temporary closure securing the health and wellbeing of the team during the Coronavirus period. The 145,000 sq ft Bloom Clerkenwell development focuses on wellbeing, sustainability and digital connectivity through targeting the highest accreditations for BREEAM, WELL and WiredScore and is working towards completion in Spring 2021.
Since achieving a resolution to grant planning permission of its flagship redevelopment of Elizabeth House, Waterloo in October 2019, HB Reavis continues to work through the third party legal and development agreements needed to progress its next phase of construction works.
The plans for redevelopment will create a brand new workspace for Waterloo, creating up to 11,000 jobs including affordable workspaces. The new c.1.3 million square feet of development will transform the pedestrian experience around Waterloo through the creation of 1.5 acres of new public spaces. The project is committed to being net-zero carbon in its operations as well as targeting the highest accreditations for BREEAM, WELL and WiredScore.
