Motive Partners is hunting for new London office space and is homing in on Helical and Ashby Capital’s JJ Mack Building, EC1.
The private equity firm is understood to be eyeing the ninth and 10th floors, which total 26,750 sq ft and include a 1,787 sq ft terrace. The space could achieve a rent of more than £110 per sq ft, according to market sources.
Motive, which operates out of London and New York, currently has offices at 7 Westferry Circus, E14, and 112-116 Old Street, EC1. It is not clear if it will vacate these sites to take space in the JJ Mack Building or if it will be additional space. The company declined to comment.
A deal would be the second letting confirmed at the JJ Mack Building, which was completed in September. Last month, investment manager Partners Group signed a lease for the sixth and seventh floors. Market sources say that transaction was priced at around £107 per sq ft in what one agent described as “a landmark deal” for the Farringdon area.
The building comprises 200,450 sq ft of offices with 5,511 sq ft of ground-floor retail and is targeting both a BREEAM Outstanding rating and a NABERS 5*assessment for energy in use.
Helical and Ashby are being advised by CBRE and Knight Frank, and Motive Partners by Compton.
To send feedback, e-mail chante.bohitige@eg.co.uk or tweet @bohitige or @EGPropertyNews
View average office rents for EC1 >>
