Nasdaq to move UK office to 22 Bishopsgate
AXA IM- Real Assets has secured another pre-let for its flagship London office development, 22 Bishopsgate, having agreed a 10 year lease to Nasdaq.
The deal brings the building to 45 per cent occupancy, with 580,000 sq ft of the 1.275 million sq ft 22 Bishopsgate now pre-let.
Nasdaq will relocate its London office to 22 Bishopsgate where it will occupy the entire 25,000 sq ft 18th floor of the PLP designed building. By being able to take advantage of over 100,000 sq ft of common amenities, social spaces and services that will be available to occupiers as part of the building’s infrastructure, together with a further c. 102,000 sq ft of events and flexible workplace space on offer following the recent lease to Convene, Nasdaq has been able to lease less space than it previously occupied, while at the same time providing it with ample space to continue to grow. As part of the transaction, Nasdaq also has rights over additional space in the building, providing further flexibility for its future requirements.
The space is expected to be handed over to Nasdaq for fitting out later this year, with the company’s employees moving in to their new home in mid-2020.
22 Bishopsgate is a new, people-focused workplace destination, which will be Europe’s first vertical village, and is expected to accommodate a community of up to 12,000 occupiers and visitors. 22 Bishopsgate’s central themes of wellbeing and community aim to allow occupiers to benefit from the direct correlation between happiness at work and quality of workplace with increasing an individual’s productivity and creativity. It has been designed to put user experience and human interaction at the centre of its offer and will be the first major London building to embody the structural and cultural shifts in how people work and live.
Central to its unique offering are the range of amenities which include London’s largest cycle park, a gym with climbing windows 125m above ground, and a wellbeing retreat on Level 41. A 22,000 sq ft area of food and dining space, known as The Market, will be provided for occupiers on level two and managed by grassroots talent of the food and beverage industry, Rhubarb and Young British Foodies. Additionally, 22 Bishopsgate will offer a members’ club on level 57, and a restaurant and bar on floors 59-60. When it opens in 2020, 22 Bishopsgate will also be home to London’s highest free public viewing gallery on Level 58, and a curated art walk on the ground floor. The building will be built and managed to the highest technology and sustainability standards, in order to support the varying needs of businesses today and in the future and is the first building in the UK to apply for the Delos WELL Building Standard.
Nasdaq is the seventh occupier to have committed to 22 Bishopsgate in advance of its completion, joining, among others, global law firm Cooley, events and flexible workspace provider Convene, global insurance and reinsurance businesses RGA, Hiscox, and global investment manager AXA Investment Managers.
AXA IM - Real Assets is developing 22 Bishopsgate, on behalf of an international consortium of investors, with Lipton Rogers Developments retained as developer.
Bjørn Sibbern, President of European Markets, Nasdaq, says: “We continue to invest and grow our presence in the UK to better serve our clients across all of our business segments. London has become an important technology and services hub for Nasdaq, particularly with our work with corporates, sell-side, buy-side, exchanges, regulators, as well as our industry and academic partners. We believe 22 Bishopsgate’s emphasis on sustainability-driven construction and its highly progressive focus on people’s wellbeing is fully aligned with our own outlook and were deciding factors in our decision to move to 22 Bishopsgate. We look forward to moving into our exciting new home next year.”
Harry Badham, Head of UK Development at AXA IM - Real Assets, adds: “Agreeing this latest pre-lease with Nasdaq, a world leading business, further demonstrates 22 Bishopsgate’s appeal to a wide range of businesses and sectors. Our core offering of providing a technologically advanced and people focused building with a wide range of amenities, which both promote wellbeing and provide businesses with flexible lease options that can align to their individual strategies, continues to resonate extremely well with potential occupiers who see their workplace as an extension to their brand.”
Nasdaq was represented by Colliers. 22 Bishopsgate was represented by CBRE and JLL.