INDUSTRY NEWS

Derwent confirms pre-lets of London office blocks to Publicis Groupe

Investment and office regeneration group Derwent has announced the pre-let of two major London office blocks to Publicis Groupe.

The communication group will move into the two buildings, covering a total office space of 155,600 sq ft once work on the developments is complete.

The Turnmill office at, 63 Clerkenwell Road EC1,  is a new building, located opposite Farringdon station, offering 58,200 sq ft of office space, it also features a 12,300 sq ft retail space still to be let. Meanwhile, the 40 Chancery Lane WC2 property, located on a Midtown corner site, is significantly bigger at 97,400 sq ft, with a further 4,400 sq ft of retail space available.

Derwent is currently working on site at both developments, but expects to hand the properties over to Publicis Groupe in time for a fit out in July 2014.

Until work is complete, Publicis Groupe will continue to use its existing offices at another Derwent site, 80 Charlotte Street W1.

Derwent London CEO, John Burns, said: “We are delighted that Publicis Groupe has chosen to remain a tenant of the Group and to occupy two of our new developments.

“Their decision endorses the quality of our product, the rising attractions of London’s vibrant Tech Belt and the broadening of the tenant base in Midtown.

“These transactions will mean that we have pre-let 74% of the projects where we are on site.  Our next major project will start early next year at White Collar Factory, in the heart of the Tech Belt, which leaves a further 1.9 million sq ft of potential development for delivery before 2020.”

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