Schroder UK Real Estate Fund has prelet 63,874 sq ft at Wenlock Works in Old Street, London, to Checkout.com.
The payments business used by firms including Deliveroo and easyJet has agreed to take a ten-year lease over the space, which is spread over three floors at the building.
SREF is due to complete its two-year refurbishment of the former Victorian warehouse, increasing the area from 80,000 sq ft to 128,000 sq ft.
Jessica Berney, fund manager of SREF, said: “Brexit may have caused hesitancy amongst some occupiers, but there has been limited impact on office space demand for the right building in the right location. Tech and media companies have continued to take space in London that is tailored and designed to suit their requirements and offers the flexibility to mould to changing needs over time.
“When redesigning Wenlock Works, it was important to create a contemporary multilet workspace that would appeal to the new generation of innovators who have exciting expansion plans shaping the global and digital landscape. We saw real potential in this London submarket as a hotspot for forward-looking organisations seeking bespoke space, and are pleased that our investment has been met with such a positive response from the occupier community.”
Charlotte Payne, people experience manager at Checkout.com, said: “As one of London’s fastest-growing tech companies, finding enough space for our ambitious team has been a challenge. Our new home at Wenlock Works will give us room to hire about 300 more people during 2020, taking the company’s employees in London to about 600 by the end of next year.
“Checkout.com is a global payment processor but London will always be key to the company’s success, and the new office reflects our commitment to this city and its deep pool of talented engineers and software developers.”
Savills, Colliers International and Montagu Evans are the leasing agents on Wenlock Works. SHB Real Estate acted for Checkout.com.
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