Ryze Hydrogen has pre-let all the office space at North Bailey House in Oxford’s Clarendon Quarter.
Lothbury Investment Management secured the 22,639 sq ft letting at the BREEAM Excellent rated building on behalf of the Clarendon Unit Trust. Ryze has taken the space on a 10-year term at a rent of £63/sq ft.
North Bailey House is the first phase of the wider Clarendon Quarter redevelopment which will see the site of a former shopping centre transformed into a 226,547 sq ft mixed-use scheme offering 50,279 sq ft of R&D space, 103,259 sq ft of Grade A office accommodation, 50,147 sq ft of student accommodation and 22,862 sq ft of retail and leisure units, in addition to a new public square. Completion of the first phase is scheduled for September 2023.
Adam Smith, deputy chief executive at Lothbury Investment Management, said: “North Bailey House is a landmark development for Oxford. It is constructed with sustainability at its very heart, achieving BREEAM Excellent and net carbon zero in its construction. It will also provide best in class end of journey facilities and ample bike storage, promoting sustainable work travel, reflected in its Active Score Platinum accreditation for Active Travel provision. This level of sustainability will make it the hallmark for office accommodation and is key to Lothbury’s commitment to sustainable development.
“We are delighted that Ryze Hydrogen, leaders in their field and a company committed to tackling climate change with zero emission fuel technologies, has taken the office accommodation in its entirety. They are an excellent tenant for this exceptional building, which forms the gateway to the knowledge cluster we are seeking to develop at Clarendon Quarter.”
Jamie Burns, group chief financial officer at Ryze Hydrogen, added: “North Bailey House is an ideal property for our group of businesses as we accelerate the creation of the new hydrogen economy. The building’s sustainable standards reflect our own world-leading net zero mission to decarbonise transportation and industry in the UK and beyond; and provides the opportunity to bring together our chain of innovative businesses under one roof in the heart of Oxford.”
Lothbury was represented by Bidwells and Savills. Ryze Hydrogen was represented by CBRE. A 5,996 sq ft restaurant/retail unit at ground and basement levels of North Bailey House is currently being marketed by JLL and Savills.
