The London Borough of Camden has let 51,158 sq ft at Camden Town Hall to Il Bottaccio Group for an event and co-working space.
The European hospitality group has taken the space at the 75,000 sq ft Grade II listed building on a 30-year lease at an annual rent of £3.5m.
Martin Olomofe, head of property at Camden Council, said: “We are delighted that we have completed the letting of surplus space in our town hall to Il Bottaccio Group, the deal is very good for us as it will provide a range of benefits to the council. We are very grateful to LSH for arranging the deal and for all their advice and support in getting it over the line.”
Joseph D’Anna, chief executive of Il Bottaccio Group, added: “We are proud to collaborate closely with Camden Council, Lambert Smith Hampton, and the vibrant local community of Camden, to revitalise a true London landmark and champion King’s Cross’s cultural and economic evolution.”
Craig Hinvest, director – Central London office advisory at LSH, said: “This is a significant transaction for the London Borough of Camden and Lambert Smith Hampton is delighted to have offered project support from inception through to completion spanning a seven-year period with support from our central London transactional team, development consultancy advice, project and building consultancy advice, and property management services. This deal is aligned to Camden’s ambitions and social value priorities for the local community within the borough.”
