The Boutique Workplace Company has signed a 15-year lease for just under 18,000 sq ft of workspace at 1-3 Frederick’s Place in Bank, London.
The 18th century building, which was designed by prominent architect Robert Adam, is part of the Frederick’s Place rejuvenation project by the Mercers’ Company and following a detailed interior design project, the Grade II listed building will open in October 2024.
The private offices at 1-3 Frederick’s Place will accommodate between two and 100 people, and some suites are self-contained, offering private roof terraces, phone booths, dedicated meeting rooms and executive suites – the largest self-contained unit is just under 3,000 sq ft.
Daniel Wheble, CEO of The Boutique Workplace Company, said: “We were proud to secure such a unique, characterful office space with its elegant, heritage exterior and incredible past. It’s a fantastic addition to our Boutique Collection, offering premium workspace in an increasingly sought-after area. We’re aware that signing a 15-year lease at a point when other providers are turning to management agreements is a bold step. For us, it demonstrates our confidence in Boutique’s offering. We agree with The City of London Corporation that more premium space will certainly be needed in the Square Mile.”
Simon Taylor, property director for The Mercers’ Company, which owns Frederick’s Place, added: “Our ambitions for the Frederick’s Place project were to make a positive contribution to our home estate by repurposing a number of vacant and dilapidated buildings. As with the adjacent and newly developed Whittington Building, we’re excited to see this mixed-use development come to fruition, and The Boutique Workplace Company’s high finish and attention to detail perfectly align with our ambitions for this historic space. In joining our estate, Boutique will certainly complement our other office and retail tenants.”
Will Kinnear, founder of HEWN, which acted on behalf of The Boutique Workplace Company, said: “If there was ever a perfect match, this is it. Having worked with The Boutique Workplace Company sourcing buildings for many years, their sweet spot is always heritage buildings – which their members really enjoy. We’re still seeing traditional lease agreements by flexible workspace operators, and this is another for The Boutique Workplace Company, demonstrating real confidence in the sector. The City of London are tirelessly working hard behind the scenes to diversify the offer in the City, and this is a superb addition in line with their ambitions on driving growth.”
Knight Frank and Ingleby Trice represented the Mercers’ Company.
