Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, announced that with the signing of two new leases, The Point in Paddington has achieved full occupancy.
A2Dominion, one of the UK’s leading housing associations and housebuilders, is taking 12,304 sq. ft of space on the 9th floor, adding to its existing accommodation on the 7th floor, while the PA Group, the news agency formerly known as the Press Association, has signed for 16,976 sq. ft on the 3rd and 9th floors. Other committed tenants include Addison Lee, Mitsubishi Hitachi Power Systems Europe and FirstGroup.
Marking the gateway of Paddington Basin, The Point is a striking office building located in one of London’s most thriving hubs. Designed by Sir Terry Farrell and completed in 2003, the elegant, modern design is inspired by a ship’s prow and follows the curvature of the historic Grand Union Canal that is directly adjacent. Acquired by Tishman Speyer in August 2014, the space has been fully refurbished to provide first-class office accommodation with spectacular views of London’s West End.
Dan Nicholson, Managing Director of Tishman Speyer UK, said: “We are extremely pleased to have agreed these leases with such great tenants to bring The Point to full occupancy. The high-calibre businesses we have attracted are testament to the quality and appeal of a fine asset, underpinned by the excellent Paddington location.”
The Point is one of Tishman Speyer’s three current major property acquisitions or developments in London that also includes 33 Holborn and Smithson Plaza in St James’s. In addition, in September of this year Tishman Speyer raised its latest value-add real estate fund, Tishman Speyer European Real Estate Venture (TSEV VIII), focussed on repositioning, developing and redeveloping high-quality office and mixed-use properties across Europe.
Cushman & Wakefield and GVA acted on behalf of Tishman Speyer.
Tishman Speyer is a leading owner, developer, operator and fund manager of first-class real estate around the world. Founded in 1978, Tishman Speyer is active across the United States, Europe, Latin America and Asia, building and managing premier office, residential and retail space in 28 key global markets for industry-leading tenants. The firm has acquired, developed and operated a portfolio of over 167 million square feet with a total value of approximately US $88 billion spread over 406 assets. Signature assets include New York City’s Rockefeller Center, São Paulo’s Torre Norte, The Springs in Shanghai, Lumière in Paris and OpernTurm in Frankfurt. Tishman Speyer currently has projects at different stages of development in Boston, Brasília, Frankfurt, Gurgaon, Hyderabad, Los Angeles, New York City, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai, Shenzhen and Washington, DC. The firm also operates portfolios of prominent office properties in Berlin, Chicago and London.
Source : Company