Expedia group and Cancer Research UK have regeared leases at Angel Building, reports Derwent London.
Expedia will occupy 231,400 sq ft or 93% of the office element from 2020, and has extended its tenure from 2021 to 2030. There are minimum rental uplifts on various leases at the next review either in 2020 or 2021. Expedia will also have the right of first refusal on the remaining 17,100 sq ft of office space when the lease expires in 2021.
Expedia currently occupies 93,400 sq ft and has agreed to take on two other leases. The majority of this additional space becomes available when Cancer Research UK moves to a new headquarters, which is unlikely to occur before 2019. Following this change, Expedia will be the principal occupier of the building through 2030.
John Burns, Chief Executive Officer of Derwent London, said:
“We are delighted to have facilitated Expedia’s expansion plans thereby cementing our relationship and extending the income profile of the building. The Angel Building continues to represent excellent, good value space attracting top quality occupiers.”
Johan Svanstrom, president of Hotels.com brand, part of the Expedia group, said:
“Angel and Islington has proven to be a fantastic location for our London-based employees. As a company, we see a lot of opportunity in London given the continued growth of ecommerce and technology industries and the strong pool of talent in the city.”
28/02/2017 10:23 by Buildington
The Design Council is to move to the Angel Building, a new Stirling Prize-shortlisted office building on St John’s Street, London EC1 later this year, after fifteen years in its current location in Bow Street, Covent Garden.
The move is planned for summer 2012 and will allow the Design Council to reduce its outgoings and improve its commitment to sustainability whilst occupying a more flexible, modern space which reflects its broader role to champion excellent design in the built environment.
The BREEAM ‘excellent’-rated building was designed by Allford Hall Monaghan Morris and has been highly commended for its sustainability, flexibility and exceptional use of light and outdoor space. It was created from the superstructure of a previous building on the site, in order to retain embedded carbon, and its sustainable design features include use of biomass for heating and recycled rainwater systems for flushing toilets. It was shortlisted for the Stirling Prize for Architecture in 2011.
David Kester, Chief Executive of the Design Council said:
“This new and more flexible space is a fantastic example of how great design can create places which are good for business, people and the environment. I’m looking forward to welcoming our stakeholders, partners and others to our new home after we move in the summer.”
The Design Council will be joining a variety of innovative organisations already based in the Angel Building, including Cancer Research, Expedia and Sage.
The Design Council has occupied its current location, a converted BT telephone exchange in Bow Street, since 1997. The third and fourth floors of the building were converted for use by the Design Council and designed by award-winning interior designer Ben Kelly.
The move is subject to contract, but the Design Council has agreed commercial terms for the tenancy.
Design Council www.designcouncil.org.uk
27/02/2012 16:24 by Buildington
Inside, the new, renamed Angel Building is tasteful and stripped back in its aesthetic. You enter through a revolving door on St John Street into a low vestibule and then you emerge into a full-height atrium with a PTFE (membrane) roof, allowing in natural light. The materials are beautiful - concrete for the frame of the building, terrazzo inlaid with marble on the floor, and details around the atrium café and reception desk in light timber.
The concrete is in a simple, robust grid and the effort of AHMM's office has paid off in some of the best concrete finishes you'll see in a London building.
Read the full article in Evening Standard - Nice day at the office in Angel? http://www.thisislondon.co.uk/lifestyle/article-23977005-nice-day-at-the-office-in-angel.do
11/08/2011 16:01 by Buildington
Angel Building has been shortlisted for this year's prestigious RIBA Stirling Prize.
Now in its 16th year, the RIBA Stirling Prize is awarded to the architects of the best new European building 'built or designed in Britain'. The winner will be announced on Saturday 1 October at Magna Science Adventure Centre in Rotherham and will be broadcast on a special edition of BBC Two's The Culture Show on Sunday 2 October.
The Angel Building
St John Street, Islington, London N1
Architect: Allford Hall Monaghan Morris
Client: Derwent London
Contractor: BAM Construction
Structural Engineer: Adams Kara Taylor
Services Engineer: Norman Disney & Young
Contract Value: £72m
Date of completion: October 2010
Gross internal area: 33,224 sq m
This speculative office space redefines the sector. An unremarkable 1980s office block has been transformed into a building not only of great elegance and poise but one that contributes positively to life on the streets outside while creating new interiors of great refinement.
A new tailored facade to St John Street sweeps round the corner with the Pentonville Road, connecting with the set-back building line established by a neo-Georgian neighbour and creating a new landscaped strip, designed by J+L Gibbons. The shimmering trees form a foil to the crisp lines of the new facades and help to aerate this busy part of Islington.
The new building retains the original structure while infilling an old courtyard and adding new office girth around its perimeter. The additional floor-space (25,000 square metres net of lettable space instead of 15,000 square metres) is the key to increasing the building's rental value, unlocking the development and enabling it to become more intimate with the surrounding streets. Retail units – including a soon-to-open Jamie Oliver restaurant - are incorporated into the ground floor on St John Street.
The entry sequence off St John Street with a publicly accessible cafe and lounge sets civilised new standards for ways in which the atrium form can be used to animate a commercial ground floor as well as simply getting light in. A finely executed and generous 3 metre grid of in-situ concrete fins and beams (instead of the usual enslaving 1.5 metres) rises up to a gridded toplight. The colour and smooth surface of the concrete is complemented by the smaller scale grid of a delicate terrazzo floor.
A magnificent polished black gestural sculptural piece by McChesney Architects Out of the strong came sweetness adds drama and counterpoint to the Kahnian gravitas of the atrium.
It is to the huge credit of Derwent London plc with their architects, AHMM, that they have created such high-end speculative office space. The building is not only extremely well made and resolved, but offers an idea of how building and working in cities might look in the future.
Source: derwentlondon.com, architecture.com
29/07/2011 11:58 by Buildington
Derwent London is pleased to announce that Expedia, the world’s largest online travel company, has agreed to lease the top two floors of the Angel Building, 407 St. John Street, London EC1.
Expedia will take 81,260 sq ft (7,550m2) of office space at a rent of £3.33 million per annum on a 10-year lease with no breaks, a rent review in year five and a rent-free period of 24 months.
They will pay a rent of £40 per sq ft (£430 per m2) on the 51,385 sq ft (4,770m2) fourth floor and £42.50 per sq ft (£455 per m2) on the 29,875 sq ft (2,780m2) fifth floor.
In addition, Busaba Eathai, a restaurant that specialises in modern Thai cuisine, has leased a 4,200 sq ft (390m2) retail unit at the south of the building. This follows the recent retail letting to Jamie’s Italian.
The 263,000 sq ft (24,400m2) Angel Building redevelopment is now 95% let. It was designed by architects Allford Hall Monaghan Morris and has recently won two major awards – the RIBA London Award 2011 and the BCO London and South East refurbished/Recycled Workplace Award 2011. Other office tenants include Cancer Research UK, which occupies just under half of the building, NG Bailey and Sage Pay. Available space in the building consists of just 12,800 sq ft (1,190m2) of offices on the third floor and the last of the three retail units totalling 1,200 sq ft (110m2).
John Burns, Chief Executive Officer at Derwent London, commented:
“These transactions continue Derwent London’s strong letting performance this year. We are extremely pleased with the letting success of the Angel Building, which was completed in September 2010, and are delighted to welcome Expedia to the portfolio. This high quality development has already established itself as a local landmark and has attracted a range of leading tenants, demonstrating the success of our product. We hope to replicate this at our 2-14 Pentonville Road refurbishment where we are on-site and which is located opposite the Angel Building.”
On the offices, DTZ, CB Richard Ellis, Pilcher Hershman and H2SO acted for Derwent London whilst Cushman & Wakefield represented Expedia. On the retail, Shelley Sandzer and CB Richard Ellis acted for Derwent London and Kelion Sworn represented Busaba Eathai.
07/07/2011 16:52 by Buildington
Sage (UK) Limited, an operating company of The Sage Group plc, has taken 12,500 sq ft (1,160m2) on part of the third floor at the Angel Building, to accommodate the London offices of Sage Pay, the payment service provider. The tenant has taken a 10-year lease with a break at 5.5 years and will pay a rent of £42 per sq ft (£450 per m2). Sage Pay joins Cancer Research UK, NG Bailey and Jamie’s Italian. With additional space also under offer, the Angel Building is now approaching full occupancy. DTZ, CB Richard Ellis, Pilcher Hershman and H2SO acted for Derwent London and Vail Williams represented Sage. The architects were Allford Hall Monaghan Morris.
Source: Derwent London
22/06/2011 17:07 by Buildington
New in Buildington! Launched in late 2010, Angel Building is Derwent London's largest redevelopment to date.
22/06/2011 17:05 by Buildington