Acting on behalf of BlackRock UK Property Fund Stage RE are delighted to have advised on the pre-letting of a 4th floor at 25 Bedford Street.
25 Bedford Street is one of Covent Garden’s most prestigious office buildings, located in a prime location a short stroll from the Piazza, with access to numerous excellent transport connections and a rich and diverse playground of amenities on its doorstep.
BlackRock purchased the building around 10 years and under their ownership have strategically set about carrying out an active upgrade of the building, its amenities and workspace.
Having previously let the 4th floor to the New Scientist publication in 2017, post a comprehensive refurbishment of the floor, which included incorporating outside space around the feature rotunda, we learnt that the occupier had been purchased by the DMG and that they would be exercising their break in 2022. Recognising the opportunity of having a great floor and a market bouncing back to life post-pandemic we set about trying to secure an early letting to minimise any void.
The strength of the building’s conditionals which include; a stylish reception, plentiful onsite secure cycle storage and on floor showers, coupled with the strength of the building’s location meant we were able to secure Alchemy Partners, a one time tenant of the building, to lease the c. 8,000 sq ft 4th floor.
An early surrender and regrant to Alchemy Partners was agreed some 7 months in advance of the May 2022 break.
Alongside Achlemy Partners the building is home to Skill Capital, Associated British Ports, Cerillion PLC and Plural Strategy Group.