Bauer Media has signed a prelet to make Lazari Investments’ Lantern development in Euston its new London headquarters.
The company, which owns brands including Absolute Radio, Grazia, Heat and KISS, has signed up for a 10-year lease on 50,000 sq ft of space at the scheme, at 75 Hampstead Road, NW1. Rental tone for the building is between £70 and £75 per sq ft.
The letting will see Bauer bring its audio and publishing businesses together into one site for the first time. It will leave its current publishing office at Academic House in Camden, NW1, when the lease ends in September and have a phased exit for its audio teams from One Golden Square, W1, between now and mid-2023.
Chris Duncan, chief executive of Bauer Media UK Publishing, described the deal as “a pivotal moment in the transformation of our business”, adding: “The move helps us to set our sights on future growth, fostered by greater collaboration between our publishing brands and with our colleagues across Bauer.”
Lazari’s Adrian Crooks said the building is now 70% prelet or under offer ahead of practical completion. Other recently confirmed tenants include Japanese technology group Fujitsu.
Cushman & Wakefield and JLL advised Lazari.
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