The office building at the junction of Gloucester Place and North Road has secured a single letting for over half of its 40,000 sq feet just a couple of months after completing a multi million pound refurbishment which delivered BREAAM “very good” status.
INTO University Partnerships based in the City of London has taken three floors totalling 21,000 sq feet. The company’s arrangements with a wide range of universities form a network of study centres that cater specifically for the specialist needs of international students in the USA, China and the UK. It has over 30 university partnerships in Great Britain including one with the University of Sussex.
Build in the 1980s, One Gloucester Place was occupied by Lloyds TSB for 25 years before becoming vacant in 2010. The owners, Warner Estate and Aviva Investors, took the opportunity to gut the building and complete 9 months of renovations transforming the building from top to bottom. The Economic Partnership held a major event in the building for 120 businesses in February with National Australia Bank Group’s Nick Parsons giving a presentation on the future of the UK economy.
|Economic Partnership event in One Gloucester Place|
ECONOMIC PARTNERSHIP COMMENT
Marketing campaigns for new and refurbished office blocks can take 12 to 18 months to attract lettings and it is a testament to the benefits of serious refurbishment that half of One Gloucester Place has been let in a matter of weeks.
The office complex joins Queensbury House in Queens Road and Sovereign House in Church Street as examples of investment in existing assets being amply rewarded.
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