Oxford Properties Group and Brockton Capital have confirmed that Nationwide’s new digital and tech innovation centre is to occupy the remaining space at the Post Building, WC1.
The building society revealed in September last year that it was planning to spend £4.1bn over the next five years on technology for the business, including the new centre.
Nationwide has agreed to prelet 91,000 sq ft on levels 1-4 on a long lease at the property, where it plans to open the new centre, for which it is actively recruiting around 750 staff.
The Post Building, where annuity provider Rothesay Life has also prelet 49,000 sq ft and global consultancy McKinsey & Company is to occupy 127,000 sq ft, is due to open later this summer.
Fitness operator 1Rebel has also taken 9,000 sq ft on the ground and mezzanine floors.
The redevelopment of the former Royal Mail sorting office will feature a 7,500 sq ft rooftop garden, 5,500 sq ft lobby and 438 cycle spaces.
There is also around 30,000 sq ft of flexible retail space, with units starting at 600 sq ft and going up to 1,400 sq ft, or potentially up to 14,000 sq ft to accommodate an independent business, retailer, restaurant, or coffee shop alongside showroom and wellbeing space.
Joe Garner, chief executive of Nationwide Building Society, said: “We are excited to be returning to our roots in Holborn, where we were once headquartered back in 1894. All of our market analysis demonstrated the new location is the best place to attract industry-leading talent within the fintech capital of the world.
“We are also purchasing a new site in Swindon which is also an important part of our future, as we continue to help the local community to grow. With growing demand for our services, this is about recruiting skills and experience into Nationwide, alongside developing talent from within our current workforce, so that we have the broad range of skills needed to deliver the society’s digital and data transformation strategy.”
Henry Shearer, head of UK at Oxford Properties, added: “The letting to Nationwide completes the leasing of the office element of the Post Building, which has been purposefully designed to promote creative thinking and will help to support the society’s ongoing service and technology transformation.”
Alex Wright, managing director at Brockton Capital, said: “It is testament to the Post Building’s unique combination of features – unparalleled scale and volume, flexible design and well-connected location – which all come together to create an exceptional working environment in the cultural epicentre of London.”
Nationwide was advised by CBRE and Addleshaw Goddard. Oxford and Brockton’s joint leasing agents are JLL, CBRE and Pilcher Hershman, with CMS Cameron McKenna Nabarro Olswang advising on legal. CBRE and Davis Coffer Lyons are joint leasing agents for the retail and restaurant space.
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
