SREF secures 18,500 sq ft of lettings across London office portfolio
Schroder UK Real Estate Fund (SREF) has secured five new lettings across two office assets from within its London portfolio at Battersea Studios and Kensington Village.
At Kensington Village, CACI, a leading specialist in providing integrated marketing, location planning consultancy, network services and technology solutions, has taken a 4,771 sq ft letting on a 10-year lease. The business will occupy the first floor of Abingdon House, which will form its new headquarters, whilst retaining 12 satellite offices across the UK and the Netherlands.
Four lettings have been secured at Battersea Studios, with a fifth occupier having newly renewed its lease to remain at the south-west London asset. Brand Agency, the company behind beauty company Ciate London, has let a 4,329 sq ft unit on a new three-year lease, whilst industry-leading London-based 3D rendering studio Recent Spaces has let two units, taking a total of 1,014 sq ft, on a three-year lease. Consulting firm Zanders Treasury and Finance Solutions has taken 2,220 sq ft on a 10-year lease. Meanwhile, local property maintenance firm Cascada has moved into Building One, letting a 337 sq ft space on a new FRI lease for three years. Existing tenant, real estate consultant Malcolm Hollis LLP has also renewed terms on its 5,905 sq ft letting for an additional five years.
SREF’s portfolio of high-quality properties, located within carefully selected London submarkets, are multi-let at affordable rents. SREF has a varied portfolio of commercial assets across areas of the capital that are benefitting from structural growth drivers, such as rapid urbanisation, technology and demographic change – particularly emerging business and social hubs, such as Battersea.
Jessica Berney, Fund Manager of SREF, says: “London’s office sector is continuing to attract interest from occupiers, particularly in emerging business locations, despite ongoing political uncertainty. SREF’s focus on London’s winning submarkets ensures we are able to meet sustained demand from businesses to be located in thriving and emerging hubs within the capital that benefit from industry-leading infrastructure and good transport connections.
“Kensington Village and Battersea Studios are great examples of assets that meet this thriving demand and provide occupiers with modern, connected workspaces with meaningful sustainability credentials – something we now consider a basic expectation from the occupier community. This is why we are consistently investing in market-leading environmental investment, such as at Battersea Studios, where Building 1 was awarded the first ‘Fitwel for Workplace: Multi-Tenant Whole Building’ certification in Europe.”
Originally built in the 1970s, Battersea Studios caters to a wide range of tenants with a variety of workspaces available for companies with between one to 300 employees. The site also includes a communal terrace, bar and café. Located adjacent to Battersea Power Station, the development is home to fashion designers, web companies, publishers, wine merchants, TV broadcasters, product designers and over 100 small companies.
Battersea Studios also features boutique co-working space Le Bureau, which provides office space, 220 desks, meeting rooms and support facilities to more than 90 small local businesses, as well as hosting regular events for its occupiers.
Kensington Village is home to former Victorian warehouses which have been redeveloped into modern, high-quality workspaces for innovative businesses. Located close to Kensington Olympia and West Kensington Underground Station, Kensington Village allows occupiers to benefit from unrivalled national and international connections.