Handelsbanken signs at Stanhope’s Woolgate

Commercial bank Handelsbanken has agreed a lease at Woolgate at 25 Basinghall Street, EC2, which is being refurbished by development manager Stanhope in partnership with Woolgate Exchange Unit Trust. The company will take 53,000 sq ft across the remaining 8,500 sq ft ground- floor unit and the third floor of the building, which amounts to 44,600 sq ft. According to EG Radius data, rents at Woolgate are around £50 per sq ft. The deal will see Handelsbanken leave its current base at 3 Thomas More Square, E1, as it seeks to take advantage of the Stiff + Trevillion-designed building’s strong sustainability credentials, local amenity offerings and transport links. The bank had occupied more than 30,000 sq ft at Thomas More, paying £52.50 per sq ft. Mikael Sorensen, chief executive at Handelsbanken UK, said: “Consolidating our office space in Woolgate will allow us to continue our UK growth story in a cost-effective way, for many years to come – from a modern, fit-for-purpose and environmentally sustainable home – aligning perfectly with our core values.” Stanhope chief executive David Camp said he was “thrilled to have secured another occupier whose requirements align perfectly with the high-quality office space and strong sustainability credentials that Woolgate offers”. Due to complete early this year, the building’s refurbishment will retain 98% of its existing structure. Woolgate is  also set to be net zero in construction and is targeting a 4.5-star NABERS rating and BREEAM Excellent certification. Savills and JLL are letting agents on Woolgate Exchange; Kinney Green acted for Handelsbanken.