An unnamed occupier has signed for 72,000 sq ft across the first three floors of the Bow Bells office scheme in the City of London, taking the building to fully let.
The 145,000 sq ft building, which was recently the subject of an extensive retrofit, is owned by Taiwan-based Fubon Life Insurance Company, with PATRIZIA acting as investment manager and Fabrix as development and leasing manager.
Clive Nichol, managing partner at Fabrix, said: “Bow Bells is an exceptional building in an unrivalled City location, and the speed of the lease-up is a strong endorsement of the approach we have taken with Fubon and Patrizia to its comprehensive retrofit. To have fully let the building within seven months of completion is apowerful validation of our strategy, creating a high quality, relevant offer shaped around what today’s occupiers want.
“Around 18 months ago, we saw an opportunity to bring the experience within our team to owners of office buildings that need specialist expertise to unlock their potential. Bow Bells demonstrates what that model can deliver. As development and leasing manager, we have brought together investment, design, delivery and leasing expertise around a clear strategy for the asset. We see significant potential to apply that expertise to other assets.”
Ker Gilchrist, head of investment management UK at PATRIZIA, added: “The leasing of Bow Bells is an important milestone in the repositioning of the asset. Our focus has been on ensuring the building responds to changing occupier requirements while improving its environmental performance.”
The project team included White Red Architects, Arup, Harris Bugg Studio and design and build contractor Ikon. Knight Frank and Newmark acted as leasing agents.
