Valeo Capital has secured a 45,000 sq ft prelet from Tencent-owned videogame developer Sumo Group at the former House of Fraser department store in Leamington Spa, which is being converted into offices and studio space.
Renamed Bedford Street Studios, the scheme aims to deliver around 65,000 sq ft of offices and design studios in total for occupiers specialising in sectors such as gaming, technology and media. Features also include a games room and roof terrace with views across Leamington Spa and the countryside.
Sumo will take up the entire first and second floors of the building. It expects to employ more than 400 staff at the property.
Knight Frank, which is advising Valeo on the scheme alongside Savills, said the move was a “huge vote of confidence” for the town and its status as the “leading home” for the UK gaming industry.
Matt Doyle of Valeo Capital said: “Our aim is to create best-in-class offices at the former House of Fraser store that was in need of significant investment. Securing Sumo as an occupier is a key milestone in revitalising the town centre and attracting new talent to Leamington Spa.”
Paul Porter, chief operating officer at Sumo Group, said: “This new space in Leamington Spa will provide a state-of-the-art base for our people and businesses in Leamington Spa as we look towards our future of work and our continued expansion here at Sumo Group.”
Jamie Phillips, partner at Knight Frank, said: “Bedford Street Studios’ best-in-class credentials are proving to be a real selling point. With its energy efficient design and outstanding ESG offer, the building is resonating with occupiers looking to move forward after Covid by offering an unrivalled working environment for their staff.”
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