Workspace provider The Office Group has signed a deal for a 50,000 sq ft block in the heart of London’s Tech City.
The firm has signed a long-term lease to take all of Albert House, 1-4 Singer Street, EC2.
A rent of close to £40 per sq ft has been agreed with the private overseas landlord.
The latest lease means The Office Group now has 21 buildings, of which nine are in the capital. Albert House is its first in the Silicone Roundabout vicinity.
The firm will undertake a £5m refurbishment of the property, including incorporating a café and fitness studio.
Serviced office operators and workspace providers have been acquisitive in the City market in recent months.
London Executive Offices has grown by more than 20% in the course of a year after its recent 40,000 sq ft letting at 85 Gresham Street, EC2, and Office Space in Town is in talks on two new City and Midtown buildings after agreeing a £100m central London venture with Forum Partners.
Hall Kemp and Hatton Real Estate advised the landlord of Albert House; the tenant was unrepresented.
joanna.bourke@estatesgazette.com
