Land Securities has let 49,000 sq ft of office space at Thomas More Square E1 following the completion of a large scale refurbishment at number 3 TMSq.
Thomas More Square, E1
Leading charity St Mungo’s Broadway has taken up 20,000 sq ft of space on the fifth floor on a 15 year lease with an 11 year break clause. This means that 3 TMSq is now 63 per cent let, leaving only 59,000 sq ft of refurbished Category A space available for interested parties.
The refurbishment has seen Land Securities introduce a double height entrance at number 3 TMSq along with an extensive business lounge and adjoining café available for use for all tenants across the Thomas More Square estate. Head of facilities and business continuity at St Mungo’s Broadway, Chris Croughton CBCI, believes that the new premises will help the charity to run with a greater level of efficiency.
He says; “With leases expiring on existing spaces we were looking for great value office space that enabled us to bring together around 240 staff currently working in five different locations, following the merger of St Mungo’s and Broadway in April 2014.
“This move offers that opportunity and will help foster even more collaborative working across teams in order to better support our clients to recover from homelessness, rebuild their lives and fulfil their hopes and ambitions.”
Meanwhile, Land Securities has also let a total of 29,000 sq ft at 2 TMSq to marketing firm Digital Window, all of which is situated on the fourth and fifth floors of the building. The two firms agreed to a 10 year revisionary lease beginning in September 2016, with a break opportunity occurring at the five year mark.
Along with the new lettings, Land Securities has completed significant lease regearing activity at Thomas More Square, with chartered accountancy group UHY Hacker Young renewing its lease for 23,000 sq ft of prime space on the sixth and seventh floors of number 4 TMSq.
The group has now reached the midpoint of a comprehensive redesign of the public realm surrounding Thomas More Square, during which 10,000 sq ft of new restaurant and retail space will be created. Due to open by the end of 2015, this work will see a diverse range of new operators move in to the area offering a wide range of grab and go and sit down eating and drinking choices for office workers on the estate.
Head of commercial at Land Securities, Kaela Fenn-Smith, says; “We’re delighted that St Mungo’s and Digital Window have chosen to move their businesses to TMSq, where the transformation is really taking shape.
“Their staff will benefit from much improved office environments and appealing public realm, as well as a number of new restaurants and shops.
“In line with our plans, it’s great to see TMSq fulfilling its potential as a vibrant yet tranquil place to work in central London.”
