Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed two lettings at its newly refurbished Mortimer Street office building in London’s Fitzrovia, leasing more than 13,000 sq ft of space across three floors which takes the scheme to full occupancy.
Security and AI specialist Helsing has agreed to take c. 7,600 sq ft of Cat A office space across the fourth and fifth floors of the building on a ten-year lease and will be taking more space than occupied at its previous location in line with the Company’s ambitious growth plans. Boutique commercial law firm Wallace LLP has taken 5, 450 sq ft across the second floor, also on a ten-year lease, and will utilise the fully fitted space for its London HQ.
These lettings follow a significant refurbishment programme that saw Orchard Street upgrade the reception, lifts and common areas, as well as add a new top floor to the building to create an attractive feature duplex and substantial roof terrace, offering plentiful outside space and excellent views. Additionally, the second-floor refurbishment, designed by Barr Gazetas Architects, has created a unique, fully fitted office.
In line with Orchard Street’s Responsible Investment approach, the sustainability credentials of the asset have been enhanced, with the building since achieving a BREEAM Excellent rating and an EPC of B. The project also aligns with Orchard Street’s strategy of refurbishing and redeveloping existing building stock where possible to preserve assets and limit the Company’s environmental impact.
Josh Quinton-Smith, Asset Manager at Orchard Street, commented: “Occupiers remain attracted to sustainable, well-designed and amenity rich buildings in good locations, and that we have been able to secure two high-calibre tenants at premium rents in such quick succession demonstrates this, while also being testament to our asset management strategy and excellent project team.”
Bluebook acted as the letting agent for Orchard Street.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market with £4.2 billion of AUM (as at 30 June 2022). It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial warehouses, retail warehouses, and offices.