Europa Capital, the pan-European real estate investment manager has signed a 15,000 sq ft pre-letting at Fetter Yard, its c. 101,000 sq ft Grade A office building on Fetter Lane in London’s Midtown, to The Workshop Technologies, the gaming technology company.
The Workshop Technologies has agreed to let the first floor of the six storey building on a 15 year lease with break options at years five and 10, as well as five yearly RPI linked rent reviews. The property, which is now 47% pre-let with c.53,000 sq ft available for occupation, is due to reach practical completion this quarter.
Having acquired Fetter Yard in December 2016 on behalf of its value add fund, Europa Fund V, Europa Capital is currently undertaking a comprehensive refurbishment of the property including the creation of flexible floorplates and a spacious ground floor entrance which leads on to a beautifully designed landscaped courtyard offering communal seating and space for entertainment, staff drinks and wellness activities.
Situated at 86 Fetter Lane in London’s vibrant Midtown, Fetter Yard is in close proximity to a a good number of local amenities and overground transport hubs, like the new Elizabeth Line at Farringdon Station (within eight minutes walk).
James Fortescue, Partner at Europa Capital, commented: “This agreement for lease with an established technology business, which was agreed during the COVID-19 lockdown, is a major sign of confidence in both the London office market and in this property in particular. We believe occupational demand remains for attractive and flexible office accommodation like Fetter Yard, where the supply of Grade A office stock is currently constrained. The Workshop Technologies’ decision to base themselves at Fetter Yard is a testament to our innovative re-design of the building, as well as the area’s improving connectivity as a result of the new Elizabeth Line.”
Europa Capital were advised by Farebrother and Knight Frank.