27 January 2020
Clifford Chance advises AshbyCapital and Helical plc on a quartet of lettings to fully let One Bartholomew
International law firm Clifford Chance has advised AshbyCapital and Helical plc on the letting of five floors at new development One Bartholomew in the City of London to four separate occupiers, most recently to financial services business finnCap who have signed up to take 19,609 square feet for a period of ten years.
Law firm BDB Pitmans joined the ranks of lawyers currently relocating their London offices by agreeing to take two floors in October 2019, closely preceded by IT consulting company Sopra Steria who agreed to take one floor in September 2019 and investment manager InfraRed Capital Partners who signed up for a floor in April 2019. Clifford Chance had also previously acted on the letting of three floors to the Chicago Booth Business School for use as its new campus in London and the pre-letting of four floors to software company The Trade Desk whilst the building was under construction.
The series of lettings secures a diverse range of occupiers for the building, which was developed by Helical plc pursuant to a forward funding with building owner AshbyCapital. One Bartholomew is a 215,000 square foot Grade A office building located within the Barts Square development, a 3.2 acre mixed-use redevelopment in West Smithfield in the City of London which Clifford Chance have been working on since 2011.
Commenting on the transaction, lead Partner Ian Painter said: "The letting to finnCap signals the full occupancy of the building within 12 months of the development being completed and launched, which demonstrates the continued appetite in London for well-designed and conveniently located office space. It is a satisfying milestone for the Clifford Chance real estate team having acquired the site almost a decade ago, advised on the planning and construction aspects, forward funded the scheme and then seen the development through to being fully let. It provides another example of how, as a firm, we are dedicated to supporting developers and owners on their complex and high value development projects in the UK."
Clifford Chance has worked with Helical plc on many of its projects in central London over the last five years, including the development and joint venture at Creechurch Place, the acquisition of The Bower at Old Street, the transformation of Barts Square, the redevelopment of 25 Charterhouse Square and the recently completed over-station development at Farringdon East known as The Kaleidoscope. The firm also acted for the joint venture between AshbyCapital and Helical plc on their acquisition in May 2019 of 33 Charterhouse Street, a major development site in the heart of Farringdon which is set to be transformed into a high-quality 200,000 sq ft office and retail scheme.
Clifford Chance Real Estate Partner Ian Painter led the transaction team and was assisted on the lettings by Associates Melissa Sykes and Ivan Yuen. Planning input was provided by Partner Nigel Howorth and Senior Associate Elizabeth Hardacre. Construction input was provided by Director Marianne Toghill and Senior Associates Edward Bretherton and Adam Waite.