TH Real Estate has agreed a new letting to Bacardi Global Brands at The Steward Building, reports Savills.
This will be a new London office for the family-owned spirits company, which has agreed a new 10-year lease and will take 9,564 sq ft (889 sq m) on the third floor.
The Steward Building, which was developed by TH Real Estate and completed in 2015, provides 48,249 sq ft (4,482 sq m) of new office space over six upper floors close to Liverpool Street Station. Bacardi will join Cognolink which occupies the top three floors of the building. Two floors remain available, both extending circa 9,559 sq ft (888 sq m).
TH Real Estate was advised jointly by Knight Frank and Savills. Bacardi was advised by Cushman & Wakefield.
Ilna Patel, Portfolio Manager at TH Real Estate, comments: With its top location in the heart of vibrant Spitalfields Market, a dynamic mix of leading retail brands on the ground floor, and a strong office occupier on the top three floors, the Steward Building is a key asset in our Central London portfolio. We are pleased to have secured Bacardi which is testament to the strength and profile of the building and we are focused on letting the remaining two floors.
James Gillett, Director in the Central London Team at Savills, adds:The Steward Building is a new landmark building for Spitalfields, an area which has seen significant growth in recent years and continues to generate interest from an ever more diverse group of occupiers. This recent letting to Bacardi will see the largest privately held, family-owned spirits company in the world take advantage of the high spec office development which offers occupiers contemporary space and open terraces.
Rory Paton, City Agency Partner at Knight Frank, says:Bacardi’s commitment to The Steward Building demonstrates their confidence in this ever evolving Central London district. Moving from Marylebone, their new headquarters building is aligned to their strong brand and positions them perfectly to recruit and retain the very best talent for this dynamic brand.