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3 TMSQ secures new lettings as it completes refurbishment

3 TMSQ secures new lettings as it completes refurbishment

3 August 2015

Land Securities has let 49,000 sq ft of office space at Thomas More Square (TMSQ), E1.

Following completion of the refurbishment of the office floors at 3 TMSQ in June, leading charity St Mungo’s Broadway has signed a 15 year lease with an 11 year break on 20,000 sq ft on the fifth floor, taking the building’s refurbished office space to 63% let.

Meanwhile next door at 2 TMSQ, marketing company Digital Window has signed for 29,000 sq ft on the fourth and fifth floors, including a 10 year reversionary lease from September 2016 with a fifth year break.

There is 59,000 sq ft of Category A refurbished space remaining in 3 TMSQ which also introduces a new double height entrance, extensive business lounge and café which can be used by occupiers across the estate, and the installation of new cycle, locker and shower facilities.

In addition to the work at 3 TMSQ, Land Securities is in the midst of a comprehensive redesign of the estate’s public realm. This will see 10,000 sq ft of new restaurant and retail space open by the end of 2015, with the operators carefully selected to offer office workers across TMSQ a contemporary range of grab and go and sit down eating and drinking choices.

Chris Croughton CBCI, Head of Facilities and Business Continuity at St Mungo’s Broadway, said:

  “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.”

Anthony Clements, UK Country Manager at Digital Window, said:

“The move to Thomas More Square was part of our planned expansion for the business in the UK. Since the start of 2013 we have added 57 employees to the company and we needed a new space that was not only offered more space, but also a location reflective of a growing technology company. The new office space is beautifully designed and our staff are settling in and enjoying their new work environment.”

Kaela Fenn-Smith, Head of Commercial at Land Securities, said:

“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.”

 

Land Securities has also completed significant lease regearing activity at the site, with chartered accountancy group UHY Hacker Young recently re-committing to 23,000 sq ft on the sixth and seventh floors at 4 TMSQ. Ladislav Hornan, Managing Partner at UHY Hacker Young said: “We’re really pleased to re-establish our presence at TMSQ and we look forward to making the most of an even better working environment, for our people and for our clients, when the estate’s renovation completes later this year.”

DTZ and Knight Frank advised Land Securities, Ashwell Rogers advised St Mungo’s, Cluttons advised Digital Window, and Allsop advised UHY Hacker Young.