Lease

LGP secures letting at Wardour Street office redevelopment

Legal & General Property (LGP), on behalf of its Managed Property Fund, has pre-let the top two floors of 76-78 Wardour Street, its Soho office-based redevelopment scheme, to media law firm Sheridans.

Sheridans has taken approximately 11,750 sq ft of Grade A office space, representing the entire fourth and fifth floors of the building, on a 10-year lease. 
 
The move will see Sheridans relocate from its current offices in Fitzrovia to the heart of Soho.
 
The scheme, which LGP redeveloped in conjunction with Walbrook Land, was launched at the end of 2013 and has been subject to an extensive refurbishment of the existing period building in order to create 33,000 sq ft of premium office space spread over the five upper floors of the building.  The new floor plates range from 5,400 sq ft to 7,000 sq ft and benefit from a triple aspect and terraces at all levels.
 
The property, which is located in the heart of the Soho conservation area, occupies a prominent corner position between Wardour Street and Meard Street.  The office space is serviced by a new enlarged and prominent reception, with a high quality contemporary fit out.  Incorporating a number of sustainability initiatives, the scheme is on track to achieve a BREEAM ‘very good’ rating. 
 
The building, which was acquired by LGP’s Managed Fund in 2011, with vacant office space, was once the headquarters of film company, Pathé, the pioneer of silent moving pictures. 
 
Simon Wilkes, head of business space development at Legal & General Property, says: "This pre-let supports our view that there is currently very little high quality, new Grade A stock coming onto the market in this core Soho location.  We have worked hard with Walbrook Land to ensure that the extensive alterations to the building have achieved a high quality, modern floor plate with external space, whilst maintaining the best features of this period property.”
 
DTZ and Edward Charles & Partners acted for LGP, and Miles Commercial represented Sheridans.

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