Global insurance intermediary group Howden has agreed a lease regear at its global headquarters at One Creechurch Place in the City of London.
The deal, led by asset manager FORM Real Estate on behalf of landlord, the Healthcare of Ontario Pension Plan (HOOPP), will see Howden expand its existing footprint at One Creechurch Place from 197,000 sq ft to 230,000 sq ft and includes a commitment to occupy the entire 275,000 sq ft building as remaining space becomes available.
Howden has been a tenant at One Creechurch Place since 2017 and over the years has expanded its footprint from its original 132,000 sq ft. Working in partnership with Howden, FORM Real Estate will deliver a comprehensive energy optimisation plan for the building and oversee the refurbishment of the ground floor entrance and reception area, and on-floor amenities.
Nick Moldon, managing director of FORM Real Estate, said: “Delivering value in a challenging market requires an absolute focus on collaboration with a true partnership approach to secure the right outcomes. As a result of this alignment, we have been able to provide a highly valued occupier with continuity and the opportunity to meet their own growth ambitions, while securing long term value with stabilised income and future-proofing the asset through refurbishment and energy optimisation.”
Dee Liyanwela, group head of corporate services at Howden, added: “Our strategy has always been centred around growth and investing in our talent, and the City of London is where we see our future. This deal enables continuity for our headquarters in this prestigious location, alongside the opportunity to expand further and in time create our own campus environment that can fuel our growth, and become a hub for our talented, global team.”
Knight Frank acted on behalf of HOOPP and Savills advised Howden on the deal.
