Four office deals at One Cambridge Square

Posted by UK Property Forums on 12th February 2024 -

he deals are among  201,365 sq ft of lettings, announced by the investor’s real estate asset management team across its Schroders Capital UK Real Estate Fund’s (SCREF) portfolio of offices in Manchester, Cambridge, and Croydon.

At One Cambridge Square, the team agreed terms with professional services company EY, international patent law firm JA Kemp and flexible office provider NewFlex for a combined 33,412 sq ft of workspace.

In addition, local retailer The East of England Co-Operative will occupy 4,199 sq ft of retail space on the ground floor. The four lettings, alongside a 34,000 sq ft lease with Samsung announced in 2023, will take the scheme to 74 per cent occupancy.

Schroders says there is strong interest from both local and international occupiers in the remaining 27,000 sq ft of available space at the development.

The scheme has achieved an EPC A rating and is on track to achieve a BREEAM Excellent rating. The building incorporates state-of-the-art LED lighting, while roof solar panels generate 30,000 KWH of energy per annum.  A 6,000 sq ft brown roof is designed to encourage habitat creation for plants and wildlife.

Deals at the other centres involve Schroders’ properties, AMP House at Croydon and City Tower, Manchester.

Eleanor Jukes, deputy fund manager for Schroders Capital, said: “We continue to see opportunities to increase income and value in our office assets in strong locations, as evidenced by our recent leasing activity at One Cambridge Square, AMP House, and City Tower. Cambridge, Croydon, and Manchester are at the forefront of innovation and education, and we consider these ‘winning cities’ that are well positioned to benefit from long-term structural trends and demographic change, attracting a vast pool of graduate talent and leading businesses.

“Through our expert asset management team, we have been able to create high-quality workspaces in these regions and have attracted a strong mix of long-term multinational and local occupiers, all of which will benefit from our state-of-the-art facilities and exceptional sustainability credentials. We will be working alongside our specialist offices team to identify further opportunities across our portfolio to deliver strong returns for our investors.”

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