Derwent London Plc (LON:DLN) today announced that the entire office space of Brunel Building in Paddington W2 is now fully pre-let, prior to the completion of the development. The final three office floors have been pre-let to Splunk Services UK Limited, a subsidiary of Splunk Inc. , an American public multinational corporation that produces software for searching, monitoring, and analysing machine-generated big data.
Splunk has signed on the remaining 49,600 sq ft of offices on the third, fourth and fifth floors on similar terms as previous lettings in the building.
Other occupiers who have committed to the seventeen-storey 243,200 sq ft building include Sony Pictures, Paymentsense, FA Premier League, Hellman & Friedman, Coach and Alpha FX. The offices are now fully pre-let at £17.6m per annum, 2.4% above December 2018 ERV. The remaining 5,500 sq ft of restaurant/café space is under offer.
The Fletcher Priest designed scheme, with its exciting external diagrid structure, is fast becoming a Paddington landmark. The innovative design creates generous 3.5m tall largely column-free 17,000 sq ft office floorplates with two of the floors benefitting from large rooftop terraces. The ground floor will have a spacious canalside reception as well as a 5,500 sq ft restaurant/café. The project will open up new public access to Paddington Basin and is sited opposite an entrance to the Elizabeth line at Paddington station.
John Burns, Chief Executive of Derwent London, said:
“We are delighted that Splunk has completed the roster of leading creative companies that have chosen Brunel Building as their new home. Our pre-letting success supports our design-led approach as well as our confidence that London continues to attract major international businesses.”
Richard Timperlake, vice president of EMEA, Splunk, commented:
“Our move to the Brunel Building later this year is testament to Splunk’s growth in the UK and EMEA and puts us in a strong position to continue to attract the best and brightest talent. It will also ensure our employees operate in the best possible environment to deliver outstanding customer success.”
