A weekly roundup of the latest property news from the central London boroughs
City of London
Estates Gazette reports Statkraft is to relocate their current UK HQ, at 41 Moorgate, to 22 Bishopsgate, EC2. The landlord AXA IM – Real Assets said it had let a further 25,000 sq. ft of floor space to the Norwegian state owned Statkraft on a ten-year lease. Almost half of the 1.276 million sq. ft of the new Bishopsgate skyscraper has already been pre-let.
Property Week reports investment by Noé triggered Techspace to sign a flurry of lettings in London, focused around east London. Techspace currently operates five sites across Londo has signed another two leases and is reportedly on the verge of signing a third. Techspace will open a 30,000 sq. ft office at 38 Scutton Street in Shoreditch, Hackney and another down the road on Leman Street in Whitechapel, Tower Hamlets. Techspace to double its European footprint off the back of Noé. David Bloom, founding partner of Noé group commented: “having proven a well-run co-working business can achieve profitability from two core clusters, the new funding will mean and expansion of locations served and greater return to investors.”
Estate Gazette reports Hines UK has put the Cabot in Canary Wharf, E14, up for sale at £390 million, reflecting a 4.75% yield. Knight Frank has been appointed to find a buyer for the 455,000 sq. ft property, which has been undergoing a significant £70 million renovation. Hines acquired the property in 2014 from Morgan Stanley. It is one of the five only freeholds in Canary Wharf not owned by the Canary Wharf Group.