Helical plc, one of London’s leading property developers, has completed five new lettings, totalling 13,583 sq ft, at its Power Road Studios multi-let office campus in Chiswick, W4:
• Green energy provider, So Energy, has signed a 5 year lease for 7,135 sq ft of space across two units
• Stem Healthcare, a leading global benchmarking firm and current tenant, has extended its floorspace with a further 999 sq ft unit, taking its total occupancy to 6,915 sq ft
• Wild Frontiers, the award-winning adventure tour provider, has agreed to take 3,478 sq ft, on a 5 year lease
• Japanese wholesaler Kobayashi has agreed to take 1,971 sq ft, on a 5 year lease, marking its first UK premises
• The recently refurbished café has been let to Metro Foods, further improving the F&B offering at the scheme.
The five lettings were agreed at a blended 8% premium to the March 2019 ERV. Rents start from £40 psf for the remaining 12,793 sq ft of available space, of which 6,055 sq ft is currently under offer.
Originally built in the 1930s as a Singer sewing machine factory, Power Road Studios is 57,000 sq ft of innovative workspace set over four distinctive studio buildings in Chiswick, West London. The site was acquired by Helical in 2015, who have undertaken a rolling refurbishment of the property that includes the development of a new main entrance as well as improvements to the communal areas.
Planning permission has been granted for the construction of a new 30,000 sq ft studio building, a 13,000 sq ft roof extension to Studio 1 and an occupiers’ amenity block to provide additional bicycle storage and changing facilities.
John Inwood, Head of Asset Management at Helical, commented:
“The campus feel of Power Road Studios with its flexible, warehouse style space has always attracted a wide range of tenants with varying requirements. We are seeing strong interest for the remaining space on site and these latest lettings are further evidence of occupiers recognising the need for high quality offices in order to retain staff and win the war for talent.”
Simon Oscroft, Co-Founder of So Energy, commented:
“We are looking forward to moving our rapidly growing team into such high-quality offices at Power Road Studios. The office space is perfect for our dynamic team and the wider building environment will really make a positive difference to our staff.”
Frost Meadowcroft and Hanover Green advised Helical.
For further information please contact:
Tel: 020 7629 0113
Dido Laurimore/Richard Gotla/Andrew Davis
Tel: 020 3727 1000