The second investment of HB Reavis on the British market will be a 12-storey building with the total space of ca. 9300 sq. m and it will arise in place of an abandoned 10-storey office, which formerly offered 3900 sq. m and a pub on the ground floor.
The energetically efficient building was designed in order to have an ecological BREEAM certificate on Excellent level. The structure would be characterized by a fully glazed façade from three sides, which will enable to admire the panorama of London from almost each room. The design envisages that the highest three floors will be a little bit backed deep into the building, thanks to which there will be external terraces on their level. Therefore, the view at Fleet Place Street will be unfolding from them. The structure is supposed to be ready in the first quarter of 2017.
HB Reavis has already received the agreement on the realization of the office building on the obtained plot. Currently, there is a lack of office space class A in this part of the city, which together with the high interest of potential tenants result in the fact that the level of uninhabited apartments is comparatively low. I believe that the perfect location and high standard of the project’s realization cause that the investment delivered by HB Reavis will be extremely attractive for both traditional City tenants who look for new headquarters and partnerships from technical and creative sectors which are newly present in this neighborhood. Much less that in the last quarter of 2018 a new Crossrail railway station will be launched in this neighborhood – says Tomaš Jurdák, director in HB Reavis UK.
The purchase of another plot confirms a planned expansion of HB Reavis on the British office market. The first investment of HB Reavis in London took place in November 2013 when the partnership bought a square at King William 33 Street, on which it is realizing 33 Central office. According to the plan, the investment is supposed to be completed in the second half of 2016.
We went into the London market by purchase of a plot at King William 33 Street. However, in those days we declared that we were going to look for further possibilities of development in City. The acquisition of a plot at Farringdon 20 Street is the continuation of that strategy. I am glad that we were able to buy such a promising investment area in a neighborhood which arouses more and more popularity. Along with the development of HB Reavis activity in Great Britain, we are still developing the London group which will develop crucial elements of an integrated business model working together with offices in the Middle and Eastern Europe by the adaptation on the British market our experience gained in other countries. We are looking forward to the commencement of the building at Farringdon 20 Street. At the same time, we are still actively looking for another locations which allow to enhance our position in Great Britain – comments Radim Římánek, member of the board of directors in HB Reavis Group responsible for the activity of the partnership in Great Britain.