Apache Capital and KKR have let 25,000 sq ft of office space at the Hove Central development in Brighton to a “major global consultancy firm”.
The multi-family scheme, which is being delivered by Apache and KKR in a joint venture with Moda Living, features 564 homes, 17,000 sq ft of amenity space and 50,000 sq ft of commercial, retail and leisure space.
The JV partners have agreed a 10-year lease – with the option to extend to 20 years – with the occupier, which has signed for all of the office space at the scheme.
Jamie Snary, executive director, asset management and operations at Apache Capital, said: “As with all our developments, placemaking is key to creating long term, sustainable and thriving communities. By securing this long term commitment from such a strong commercial occupier, we have generated significant value for our investors alongside bringing forward the occupancy of the wider scheme to compliment the lease up of the residential BTR. We are also in talks with other leading brands for the retail and leisure spaces which will add further convenience and amenity for our residential and commercial occupiers alike.”
Nicky Barker, managing director of asset management at KKR, added: “The signing of this lease at Hove Central is testament to the delivery of an exceptional Grade A working space that has attracted a high quality, long term tenant. It also demonstrates the enduring appeal of great assets in great locations and the outcomes that can be achieved with thoughtful approach to modern mixed-use developments catering to working and living.”
James Blakey, director of planning and engagement at Moda Living, said: “From the outset, Hove Central was designed to be a vibrant new community for the city. Bringing a major employer into the neighbourhood adds real energy to the area and helps create the kind of activity, footfall and connection that makes mixed-use communities thrive. As the operator of the site, our focus is on how people use and experience the neighbourhood over time, and this letting is an important step in activating the public spaces, supporting jobs and local businesses and continuing to enhance its place in, and contributions to, the wider city.”
Apache Capital and KKR were advised by Flude Property Consultants and Lambert Smith Hampton on the letting. BCLP advised on all legal matters.
