A workspace firm set up by prime minister David Cameron’s former technology adviser has secured its first London site.
Second Home, created by Rohan Silva to be a member’s club and workspace provider for entrepreneurs and creative businesses, has agreed to take a 10-year lease at the 50,000 sq ft Britannia House in Shoreditch, E1.
It will pay landlord Rainbow Properties just over £30 per sq ft for the space.
The 25,000 sq ft phase one of the project, due to launch in October, is already 75% prelet, according to Second Home. Average rents per workspace will be around £1,000 per month.
The lease includes an option for the company to take over the remaining 25,000 sq ft within the building by May 2015.
Silva, who founded the government’s Tech City initiative, said the business was looking for three new London locations of at least 20,000 sq ft each to open before 2015.
“We are looking all around central London but we are particularly excited by King’s Cross and Camden,” he said.
The property expansion will be entirely privately funded. The group’s high-profile investors include the founders of M&C Saatchi; the former chief economist of Goldman Sachs, Jim O’Neill; Viscount Cranborne of Samos Capital; and Zoopla founder Alex Chesterman.
Hatton Real Estate advised Rainbow Properties; Pilcher Herschman acted for Second Home.
emily.wright@estatesgazette.com
