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| Date | 5 Dec 2023 |
| Time | 07:00:03 |
| Category | Acquisitions and alliances |
| ID | 6215V |
5 December 2023
HELICAL PLC
("Helical" or the "Group")
Helical plc and Ashby Capital have let the first, second and third floors comprising 68,002 sq ft of best-in-class office space at The JJ Mack Building, 33 Charterhouse Street, EC1 to J. Sainsbury plc. The retailer is expected to relocate its existing London office from 33 Holborn, which is only a few hundred yards away, to the new building in the next two years.
The recently developed building totals 200,611 sq ft of office space across 11 floors, alongside 5,439 sq ft of ground floor retail. It is rated EPC A and is anticipated to receive both a BREEAM Outstanding rating and a NABERS 5* assessment for energy in use. Incorporating market-leading technology within the building enables tenants to easily manage their ambient environment. Tenant amenities include 426 cycle spaces and high-quality showers and changing rooms.
With the sixth and seventh floors, totalling 37,880 sq ft, let to Partners Group and the 13,408 sq ft ninth floor let to Corio Generation, part of the Macquarie Group, The JJ Mack Building is now 58% occupied.
The building takes its name from the grocery store formerly located on the corner of the site, owned by JJ Mack, a market trader whose career started with just a street barrow. It sits opposite the Victorian Smithfield Markets Building, which is undergoing extensive refurbishment and restoration to become the new Museum of London. Farringdon Station, one of the best-connected stations in London following the opening of the Elizabeth Line, is just 150 yards away.
Simon Roberts, Chief Executive of J Sainsbury plc, said: "We're delighted to have signed a new agreement that will see Sainsbury's London Store Support Centre relocate to 33 Charterhouse Street in 2025. This is a really exciting opportunity for us to create a modern and sustainable workspace that is better suited to our needs and ways of working as our business continues to evolve.
"Sainsbury's has a long and proud history in London, dating back to 1869 when John James and Mary Ann Sainsbury opened their first shop in Drury Lane. We know that our success depends on our brilliant colleagues and by moving to a more flexible, efficient workspace we can remain committed to maintaining a presence in central London while taking another important step in delivering our Save to Invest plan, which will enable us to invest where it matters most to our customers."
Gerald Kaye, Chief Executive of Helical plc, commented: "Following the recent lettings to Corio Generation and Partners Group, we are excited to welcome J. Sainsbury to The JJ Mack Building, which means we have now leased 58% of the 200,611 sq ft building. These lettings are clear examples of the bifurcation taking place in the market between the best in class office space and the rest."
Peter Ferrari, Chief Executive of AshbyCapital, said: "The success of The JJ Mack Building in attracting market-leading rents from forward-thinking occupiers is testament to its high-quality design, strong sustainability credentials, extensive amenities and excellent location, and we are confident that our new occupiers will benefit from their inspiring new workplace."
Helical and Ashby Capital were advised by CBRE, Knight Frank and Clifford Chance and J Sainsbury by Cushman & Wakefield and Winckworth Sherwood.
For further information, please contact:
Helical plc 020 7629 0113
Gerald Kaye (Chief Executive)
Tim Murphy (CFO)
Address: 5 Hanover Square, London W1S 1HQ
Website: www.helical.co.uk
Twitter: @helicalplc
FTI Consulting 020 3727 1000
Dido Laurimore/ Richard Gotla