The Office Group has acquired two buildings with a combined total of 83,000 sq ft in central London. The flexible co-working provider has signed a 16-year lease for the eight-floor The Media Village on Titchfield Street from landlord The Langham Estate.
The Media Village, approximately 47,000 sq ft, is expected to open in mid-2020. It is understood rent is approximately £55/£56 per square metre.
TOG has also signed a 20-year lease from a private investor for Grade II listed Liberty House on Regent Street. The five-storey 36,000 sq ft building was originally part of the Liberty department store and is also expected to open in mid-2020.
The deals will bring TOG’s total number of workspaces in London to 43 buildings. The company has opened three new workspaces in the capital so far this year, which are One Lyric Square in Hammersmith, Scott House in Waterloo Station and Summit House in Holborn. A further four buildings are expected to open before the end of the year.
Charlie Green, Co-CEO at TOG, said: “Two brilliant buildings in the middle of the West End is fantastic growth for us. Liberty House kind of does all the work for us, given how beautiful it is and its prominence, and The Media Village will be completely repositioned to create an outstanding place to work.”
TOG was advised by Summit Property Advisors on the acquisition of The Media Village, and Cushman & Wakefield on the Liberty House deal.
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