TPG Angelo Gordon and Beltane Asset Management have let 90,000 sq ft to AlixPartners at One Millennium Bridge in the City of London.
The global consulting firm has signed a 15-year lease, beginning in late spring 2025, with occupation expected from spring 2026.
AlixPartners will occupy the fourth, fifth and sixth floors and is relocating to the building from 6 New Street Square, which has been its UK headquarters since 2016.
The retrofit development, which was designed by Piercy & Company Architects, provides 215,000 sq ft of workspace and 35,000 of retail space and boasts one of London’s largest roof top gardens.
TPG Angelo Gordon and Beltane Asset Management secured refinancing from a controlled affiliate of Starwood Capital Group to support the extension and refurbishment of the development, as well as the recent completion of a new 150-year headlease with the City of London.
Paul Thompson, EMEA head of operations at AlixPartners, said: “We are delighted to have agreed terms to occupy the upper floors of this exciting new development. As our business continues to grow, we are committed to delivering the most creative, productive and attractive working environment possible. We are therefore confident that its landmark location and superb amenities will make One Millennium Bridge an exceptional UK headquarters for our staff and clients alike.”
Mike Diana, managing director, Europe real estate, at TPG Angelo Gordon, added: “Our investment in One Millennium Bridge, and efforts to expand and upgrade the workspace to a next-generation highly efficient standard, unlocks the enormous potential of an exceptionally well-located site. With new features that cut emissions, support air quality and increase biodiversity, the building will bring wide-ranging benefits to occupants, and more widely to the City of London.”
Jonathan Chenery, partner at Beltane Asset Management, said: “We intend One Millennium Bridge to be a new riverside landmark for London and an exemplar of sustainable re-use and net zero carbon, which outperforms London’s net zero targets well ahead of City Hall’s 2030 deadline. The development builds on our 15-year track record of investing in core, institutional-grade central London real estate with active management potential, where significant value can be created through intelligent asset management.”
Harvey Sandhu, vice president, European debt origination, at Starwood Capital, added: “We are delighted to support Beltane Asset Management and TPG Angelo Gordon in the financing of One Millenium Bridge. The building features a unique location along the River Thames, strong ESG credentials and has been delivered to a very high standard demonstrated through the strong leasing momentum. The transaction builds on Starwood Capital’s long- standing experience financing high quality assets in the City of London.”
