Four prelets, five regional deals and one sale comprise the 10 biggest office deals of 2016, a year that has been kind to office agents. More than half the deals were signed after the EU referendum in June and the largest deal of the year blew 2015’s biggest out of the water. The top deal of 2016, signed in December, overtook FCA’s deal for 425,000 sq ft at 55 International Quarter, E20, by 120,000 sq ft.
The top 10 office deals of 2016
• 10: Trident Place, Hatfield, 137,000 sq ft, June Online grocer Ocado signed a 12-year-lease starting at the end of 2016 at Trident Place, Hatfield, Herts, from AEP Investment Management. Colliers International was the letting agent.
• 9: Sheffield Retail Quarter, 140,000 sq ft, September HSBC signed a 15-year lease starting in 2019 with Sheffield City Council in what will be the first office building at the Sheffield Retail Quarter.
• See Regeneration: Sheffield retail quarter’s new focus
• 8: 30 Gresham Street, EC2, 148,000 sq ft, March In one of the biggest Q1 deals in the London office market, Investec signed for space at Commerzbank AG’s 30 Gresham Street. Cushman & Wakefield and Knight Frank acted for Commerzbank.
• See EG London offices market analysis Q1 2016
• 7: 122 Waterloo Street, Glasgow, 150,000 sq ft, March Financial services company Morgan Stanley acquired 122 Waterloo Street in Glasgow from HFD (Investments). The deal doubles Morgan Stanley’s presence in the city and provides space close to the firm’s existing offices in the Cerium Building and the Sentinal Building. CBRE was the sales agent.
• See Morgan Stanley banks on Glasgow
• 6: 101 The Embankment, Salford, 165,000 sq ft, October ASK Developments let 101 The Embankment in Salford, Greater Manchester, to Swinton Insurance. The signing is the city’s largest deal of the year. WHR Property advised Swinton; CBRE and Cushman & Wakefield represented the Embankment consortium.
• See Swinton completes at 101 Embankment
• 5. Ruskin Square, 181,000 sq ft, August HM Revenue & Customs signed for 180,898 sq ft on a 25-year lease ending in 2041 for its first regional centre at Stanhope and Schroders’ Ruskin Square in Croydon. JLL advised HMRC; Savills and JLL represented Stanhope and Schroders.
• See HMRC confirms Croydon hub
• 4: 33 Central, King William Street, EC4, 228,000 sq ft, July HB Reavis sold 33 Central, on King William Street, EC4, to US bank Wells Fargo for its own occupation. Knight Frank, Gerald Eve and CBRE represented HB Reavis.
• See Wells Fargo completes on 33 Central
• 3: 5 Canada Square, E14, 316,000 sq ft, March Law firm Thomson Reuters signed for space at St Martins Property Corporation’s 5 Canada Square, E14. Cushman & Wakefield and Knight Frank handled the deal, which lifted Cushman & Wakefield to the top of the Q1 2016 London office league table.
• See Cushman & Wakefield tops London office league
• 2: Battersea Power Station, SW8, 500,000 sq ft, September Tech giant Apple signed for the top six floors at Battersea Power Station through CBRE and Knight Frank.
• See Apple signs lease at Battersea Power Station
• 1: 10 South Colonnade, 542,000 sq ft, December The Government Property Unit took the whole of the Canary Wharf Group’s 10 South Colonnade, E14, in a sublet from Barclays. The GPU signed a 15-year lease expiring in 2032 to create a new civil servant hub. BNP Paribas advised the GPU; CBRE represented Barclays.
