Kennedy Wilson has leased an entire office building on London’s South Bank to WeWork.
WeWork is expected to open its offices at Friars Bridge Court in early 2021, following a refurbishment of the building.
The eight-floor building covers more than 98,000 sq ft.
Currently leased to a variety of tenants on short-term leases, Friars Bridge Court is wholly owned by Kennedy Wilson.
Mike Pegler, head of asset management of Kennedy Wilson Europe, said: “We are excited to have now concluded our first UK deal with WeWork, which also represents the largest letting of 2018 in this core South Bank market.
“The WeWork lease and our recently signed ASOS lease, in Watford, represent our largest lettings in Europe and bring strong momentum to our leasing programme year-to-date, with 2.5m sq ft of lease transactions on £37m of contracted rent generating £8.9m of incremental income.”
Patrick Nelson, head of WeWork EMEA and Australia, real estate, added: “London’s South Bank is an important location for us in terms of community. Adding Friars Bridge Court to our portfolio proves our commitment and dedication to this area and to the city as a whole. We also recently announced that our largest European building, WeWork Waterloo, with more than 6,000 members, is also set to open next year.”
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