Global business news channel CNBC has re-signed for around 10,250 sq ft of space at Addington’s 10 Fleet Place in London on a 10-year lease.
It is relocating from the sixth floor of the 186,000 sq ft building, which has been its home for nearly 30 years, to the ground floor where it will open a new multimedia hub. The new hub includes a studio utilised for weekday programming which will be visible to people walking through Fleet Place square.
Addington is the asset manager for the property on behalf of Vervain Resources, the Hong Kong investment company who acquired the building in 2015. Addington will now refurbish the office space vacated by CNBC on the sixth floor and re-let it at a higher rent, as it has done successfully elsewhere in the building.
David Dalrymple, principal at Addington said, “We are delighted and very excited that CNBC has reaffirmed its long-term commitment to 10 Fleet Place and will now build its brand-new state of the art multimedia hub in space affronting the Fleet Place Estate. Having a multimedia hub here, including a studio and the ancillary offices will increase the visibility and vitality of the building, in this attractive Central London square.
“We believe the ongoing success at 10 Fleet Place is down to the demand for high quality space in Midtown and the City, particularly as businesses try to recruit and retain the best staff. We have invested heavily during the past three years to vastly improve the building’s environmental credentials, internal finishes and wider facilities, to make it significantly more attractive.
“As a result of this we have succeeded in leasing 155,000 sq. ft of space in the building to new and existing tenants over the past three and a half years. Following the completion of the move we now have the opportunity to refurbish the entire space on the sixth floor which we believe will be very attractive to businesses looking for a central location at the highest specification.”
