Invesco Real Estate and development manager YardNine have let space at its Fifty Paddington development to Japanese pharmaceutical company Shionogi.
Shionogi has taken 13,628 sq ft on the third floor of the 85,000 sq ft grade-A office and retail building at 50 Eastbourne Terrace, W2. The building is now more than 70% let, with around 25,000 sq ft remaining across three units.
Other office tenants include healthcare company Oracle; software company ISN; St James’s Place Wealth Management; and the English Football League.
The development has a food and beverage offering and personal trainer-led gym experience, Ultimate Performance. It is close to new hotel developments, including a 369-bedroom hotel at 40 Eastbourne Terrace, which will be operated by Premier Inn and hub by Premier Inn.
Mark Younger, director of YardNine said: “Ranging from pharmaceutical and healthcare companies to software, football and wealth management, Fifty Paddington is now home to a genuinely diverse and exciting mix of tenants. This leasing success reflects the development’s high-quality office space and the strong appeal of the area and its amenities, underpinned by excellent transport links and a vibrant mix of retailers, hotels and restaurants.”
Ciaran Butler, director of investments UK, Invesco Real Estate, said: “This addition underscores the wide-ranging appeal and robust fundamentals of our property, representing multiple sub-sectors of the economy. As the building approaches stabilisation, we are now delivering on our investment objectives for our underlying investor.”
YardNine was advised by Colliers, CBRE and Ashurst.
Image © YardNine
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