London-based real estate developer and asset management firm W.RE has leased more than 33,000 sq ft at its refurbishment of the former Arding & Hobbs department store in Clapham Junction.
Luxury health club and gym Third Space has taken 28,000 sq ft across three floors, with 5,500 sq ft on the ground floor let to Albion & East, the Imbiba-backed London bar group.
The Third Space club will feature five studios offering pilates and hot yoga alongside other activities. The club will also benefit from a wet spa with sunken massage jet hydropool, cold plunge pool, steam room and Himalayan sea salt walled sauna.
The Arding & Hobbs department store opened in 1910 and was more recently occupied by Debenhams. W.RE is refurbishing the store into 90,000 sq ft of flexible retail and leisure space across the ground and basement floors, with modern office space on the upper floors and a new roof top extension.
Chris Bonner, head of asset management at W.RE, said: “Arding & Hobbs is a unique building with a very special future. Testament to this is the commitment of Third Space to deliver a world class health and wellbeing club within Arding & Hobbs, serving as an invaluable amenity to future users of the building and the local community. Albion & East’s distinctive offering will further bring new life to Clapham Junction, strengthening Arding & Hobbs position as major hub to life, work and socialising.”
Colin Waggett, CEO of Third Space, said: “We’re excited to announce further expansion with the opening of Third Space Clapham, reaching a new area in London, with a beautiful Grade II listed building. With such an iconic building, comes the need to ensure we’re doing it justice, through pushing the boundaries of what people can expect from gyms and their design aesthetics. We will offer members a luxurious environment, with the very best in training and recovery facilities.”
Sarah Weir, managing director at Albion & East, added: “Clapham will be a fantastic addition to our collection, and we are so excited to be part of the latest W.RE development. We favour a light intervention approach, building on the original aesthetics of the old department store, adding in carefully sourced lighting, furniture, and artwork to bring the space back to its former grandeur.”
Cushman & Wakefield and Hedge advised W.RE on this lease and the refurbishment is due to complete in autumn 2023.
