RE Capital, the pan-European investment, development and asset management company, has secured a pre-let with cyber security firm WithSecure™, at its Goat Yard development in 20 Queen Elizabeth Street, Southwark, London SE1.
WithSecure™ has leased the ground, first and fifth floors of the building, totalling 10,675 sq ft.
As a part of RE Capital’s strategy of acquiring and repositioning assets in core Central London locations, Goat Yard, formerly a Victorian Warehouse building named Albion House, was acquired in May 2021 for £15.05m. RE Capital are undertaking a comprehensive refurbishment of the property after achieving planning consent from Southwark Borough Council for an additional storey and a communal roof terrace and courtyard.
Expected to be completed early this summer, Goat Yard will offer grade A office accommodation, totalling 30,484 sq ft. Following the pre-letting, 4 floors remain available and will be delivered to a combination of CAT A or CAT A+ fully fitted space.
Designed by Hale Brown architects, the building boasts a newly reconfigured and refurbished reception, a communal terrace with unencumbered views of Tower Bridge and the City skyline, as well as light and airy flexible workspaces with breakout areas, showers and changing rooms and 50 bike racks. The building’s EPC rating will also be increased following major investment in the insulation and HVAC systems.
Simon Banks, Head of UK Real Estate, RE Capital, said:
“The enthusiasm WithSecure™ has shown through this pre-let at Goat Yard provides further evidence of the improving sentiment towards high-quality sustainable offices in core locations and supports our original investment rationale behind the acquisition in May last year. We are delighted to be ahead of target with the leasing campaign.”
Chris Wright, Senior Asset Manager, RE Capital, said:
“We are very pleased to welcome a high-profile and quality first tenant to the building: further proof of our rationale to deliver best-in-class office refurbishment into a diverse submarket. Amenity-rich developments such as Goat Yard are in short supply in London, and we anticipate strong market interest to continue over the coming months.”
Rubix, RX London and Katten acted as leasing agents on behalf of RE Capital while COREP and Thrings LLP represented the tenant, WithSecure™.