Helical has agreed two new lettings across five units at The Loom, Whitechapel, totalling over 20,000 sq ft.
6,400 sq ft has been let to The Fairtrade Foundation, the UK based charity committed to improving trading conditions and empowering producers to combat poverty in the developing world. In addition, Hey Habito, an existing tenant at The Loom, has signed new leases on 13,600 sq ft within the building across four units. Hey Habito is a leading online mortgage broker and has grown considerably since moving into 3,600 sq ft of The Loom in October 2016. All the rents achieved were either at or above March 2018 ERV.
The Loom is one of London’s few remaining Victorian wool warehouses and is multi-let to 36 tenants from a range of industries. Helical completed a full refurbishment of the 110,000 sq ft building in 2016 including a new entrance onto Gower’s Walk, an enhanced reception and communal area and new shower and cycle facilities. There are 47 office units providing between 1,000 sq ft to 9,500 sq ft of characterful workspace and following the recent lettings the building is now 93% let.
Tom Anderson, Senior Investment Executive at Helical, said “These two recent lettings highlight the ever increasing demand for high quality space within the City Fringe from a variety of occupiers and is further evidence of the success of Helical’s strategy of investing in design led, multi-let offices and offering flexible lease terms which allow tenants to grow within our buildings.”
Fiona Kindness, Chief Financial Officer at the Fairtrade Foundation, said “We are really excited to be joining The Loom community. As a charity, we were looking for space that was good value but equally somewhere that our team would be excited to work in – The Loom absolutely provides that balance.”
Garreth Griffith, Chief of Staff at Habito, the online mortgage broker, said: “We are delighted to be upsizing once again within The Loom as it offers us the creative space that our growing number of employees want. Helical has provided us with the flexibility in the lease length and area size that we need as an expanding tech business, and we are very happy to call it home.”
Helical was advised by Colliers International and Hall Kemp. The Fairtrade Foundation was represented by Monmouth Dean and Hey Habito was advised by DeVono Cresa.
For further information please contact:
Tel: 020 7629 0113
Dido Laurimore/Tom Gough/Richard Gotla
Tel: 020 3727 1000