Bloom and TPG Angelo Gordon have completed nine lettings across their portfolio of urban logistics assets in London, securing headline rents of up to £47/sq ft.
The transactions, agreed on lease terms ranging from five to 15 years, include new lettings, renewals and regears at Bloom’s estates in Fulham, Camberwell, Park Royal and Poplar.
At Bloom Fulham, BOTB and Ripe Avocado have signed new leases on units of 7,222 sq ft and 3,617 sq ft respectively and at Bloom Camberwell, Honest Burgers has leased 16,220 sq ft across two newly completed units for its central production kitchen.
At Bloom Poplar, Instinct Spaces has signed for 1,392 sq ft, Uniform Standard has taken 4,790 sq ft, Potato Art Studio has taken 1,333 sq ft and Colt Technology Services has completed a lease regear on 11,388 sq ft, extending its occupation to 17 years. Finally, at Bloom Park Royal, Browns Seafood has renewed its lease on 2,532 sq ft and Isembard has agreed a regear on its 2,198 sq ft unit.
Sam McGirr, co-founder and partner of Bloom, said: “These lettings demonstrate the continued strength of demand for high quality, sustainable industrial space in London’s most connected locations. The diversity of occupiers – from food and tech businesses to creative operators – reflects how our buildings are being used in new ways. Achieving record rents of up to £47/sq ft underlines both the scarcity of this type of space and the value occupiers place on well-designed, well-located accommodation”.
Bloom and TPG Angelo Gordon’s letting agents were Newmark and Montagu Evans at Bloom Fulham; JLL, BNP Paribas Real Estate and Savills at Bloom Camberwell; JLL and Logix Property at Bloom Park Royal; and Newmark, Savills and Glenny at Bloom Poplar.
Katie Cooper, real estate partner at Russell-Cooke, which advised Bloom on legals, said: “These lettings signal the strength and continued demand for high-specification, highly sustainable, ultra-urban logistics spaces. Securing such a high quality range of tenants at record rates is a real testament to Bloom’s offering.”
