Buildington
Open database of new property developments & buildings in London, UK.
Screen capture of White Collar Factory website at www.whitecollarfactory.com.

Screen capture of White Collar Factory website at www.whitecollarfactory.com.

27. February 2014

White Collar Factory

Address:
70-100 City Road, London EC1V 9BR
Type:
Mixed use
Completion:
2017
Area:
293,000 sq ft
Flats:
9
Offices:
1
Retails:
1
Viewed:
6376

Description of White Collar Factory

White Collar Factory is an office-led mixed-use development in Old Street, London EC1.

VISITING
The nearest tube station is Old Street.

The development completed in the beginning of 2017. It provides 237,000 sq ft of new office space, with high ceilings, abundant natural light and natural ventilation.

The White Collar Factory tower incorporates a number of original ‘long life: loose fit' architectural features to provide the most suitable space for modern office occupiers.

KEY DETAILS
- 226,378 sq ft of office space in a new sixteen storey office building - White Collar Factory
- Typical net internal floor areas in White Collar Factory between 14,000 sq ft and 15,000 sq ft per floor
- Additional 41,360 sq ft of office space in neighbouring buildings arranged around a new public courtyard - Old Street Yard
- Environmental performance targets: BREEAM Excellent (2011), EPC A rating and LEED Platinum
- Buildings on the campus are connected at lower ground floor with 10,000 sq ft of shared office facilities
- 275 cycle spaces and shower/locker facilities (1 cycle space: 100 sq m)
- 11,000 sq ft retail/restaurant space at ground and lower ground floors
- high ceilings 3,5m in offices
- 148m long rooftop running track
- 1,300 sq ft roof terrace
- 9 private residential apartments

TENANTS
- Adobe 14,900 sq ft for 11,5 years 2017 Q1
- Red Badger 7,700 sq ft for 10 years 2017 Q2

HISTORY
2017 - Officially opened by Derwent London 5th September 2017. Completion in H1. White Collar Factory achieves BREEAM 2014 Outstanding with a score of 85%.
2014 January - work starts on site

Connected Companies

Developer:
Lettings:

Buildington Rating & Notes

News & Comments: (12)

Buildington
2017/09/06 10:39

Derwent London has officially opened the White Collar Factory.

Located overlooking Old Street Roundabout, at the heart of London’s Tech Belt, and designed by renowned architectural practice Allford Hall Monaghan Morris (AHMM), White Collar Factory is one of Derwent London’s most ambitious schemes to date. Distinctive features include 3.5m high ceilings, concrete core cooling, a 150m rooftop running track, communal roof terrace a new landscaped public space and the ability to accommodate flexible occupation. A game-changer in sustainable and interactive workplace design, the development is the latest realisation of Derwent London’s business model of creating well-designed and innovative office space.

The 293,000 sq ft mixed-use development includes a 237,000 sq ft landmark office tower, where the first tenants are already in occupation, creating an energetic community in this new Tech Belt landmark. Tenants include Adobe, AKTII, BGL, Box.com, Capital One, Runpath, Spark44, The Office Group and Workshop Coffee. The tower forms part of a new urban campus with a further 56,000 sq ft of offices, studios, incubator space, restaurants and apartments, set around a new landscaped area of public realm, ‘Old Street Yard’. The low cost, low energy and low carbon campus style of the development offers an innovative user-focused design approach that will become a blueprint for future workplace design.

In addition to the buildings, the new public space at Old Street Yard embraces the energy and vibrancy of the local area, contributing to Old Street as a business hub/tech city quarter and the changing City borders. ‘Network’, a striking 9ft bronze sculpture by Thomas J Price was commissioned by Derwent London and stands as the centrepiece of Old Street Yard. The project is the latest iteration of an eight-year research initiative between and Derwent London and AHMM, which has also produced projects including Tea Building E1 and Stirling Prize-shortlisted Angel Building EC1. The White Collar Factory project was led by Simon Silver and Paul Williams, directors of Derwent London, and AHMM director Simon Allford, working in collaboration with engineering firms AKTII and Arup, and consultants AECOM and Jackson Coles.
www.whitecollarfactory.com

Simon Silver, Director of Derwent London, said:
“We are delighted to launch White Collar Factory – our most progressive project to date. It is the culmination of years of thought, research, design development and collaboration with our team to produce a new type of sustainable workplace for London. The strong line-up of occupiers, despite the uncertain economic and political landscape in the UK, is testament to the building’s innovative design and showcases the strength of the Derwent London offering.”

Buildington
2017/08/11 06:20

White Collar Factory is currently 87% let overall with office tower 92% let.

Source: Interim Results 2017, Derwent London Plc. 10.8.2017

Buildington
2017/07/19 17:43

Last opportunity to become a part of this iconic building - 6,732 sq ft available on the 12th floor.

Join an exciting array of tenants including:
Adobe, AKTII, BGL, Box.com, Capital One, The Office Group, Runpath, Spark44.

Enjoy unparalleled views over London while taking a run around the 150m running track on the rooftop!

Buildington
2017/06/02 09:44

The top two floors of the tower at White Collar Factory have been let to Box.com, the cloud content management company, reports Derwent London.

The initial rent is £2.1m per annum or £75 per sq ft which is above December 2016 ERV. Box.com will occupy 28,500 sq ft on a 15-year lease with 5-year rent reviews and a break in year 10. The rent free period is equivalent to 18 months on a 10-year lease, rising to 23 months on a 15-year term.

Following this letting the tower is 92% let with c.7,000 sq ft of offices remaining on part of the 12th floor. The whole development is now 83% let.

The scheme has only recently been completed and the first tenants are already in occupation and creating an energetic new community in this new landmark at the heart of the capital’s Tech Belt. The White Collar Factory tower comprises 237,000 sq ft and is the principal building within the office-led campus. It incorporates innovative and sustainable design with 3.5m high ceilings, concrete core cooling, openable windows and the ability to accommodate flexible occupation. There is a further 39,000 sq ft of offices, three restaurants and nine apartments surrounding new public space.

John Burns, Chief Executive Officer of Derwent London, commented:
“The addition of Box.com to an already strong line-up of occupiers is a great endorsement of both Derwent London’s product and the Tech Belt area. Our decision to develop an innovative office campus which ensures occupier flexibility and incorporates industry-leading sustainability features has been fully justified by the excellent response the building has received.”

Buildington
2017/05/15 11:42

The completed White Collar Factory is currently 72% let with the majority of the remaining space under offer.

Source: Derwent London Q1 2017 Business Update 11.05.2017

Buildington
2017/02/28 10:27

Derwent London has pre-let the 13th floor at The White Collar Factory to Adobe, who has already taken two other floors in the tower.

The new letting comprises 14,900 sq ft for a rent of £1.0m pa or £67.50 per sq ft. It is for 11.5 years and incorporates a minimum uplift with a cap and a floor on rental review
in five years’ time. Adobe received incentives equivalent to 22 months rent free.

White Collar Factory is nearing completion a few months behind the original schedule.

The 237,000 sq ft tower building is 80% pre-let with only the top two and a half floors available. The half floor is under option until six months after practical completion.

Derwent London is now focused on marketing the lower
rise buildings surrounding the new open space.

Currently they have pre-let 15,600 sq ft of this office space, and 9,000 sq ft of retail is conditionally under offer, which leaves 23,400 sq ft of lower rise offices and the 8,000 sq ft residential space still to let. The ERV of the project is £16.9m and the remaining capital expenditure is £11m.

Source: Derwent London Annual Results 2016 Preliminary Announcement derwentlondon.com 28.02.2017

Buildington
2016/06/03 13:27

White Collar Factory development has secured the UK’s first Wired Certified Platinum for Development & Redevelopment rating bringing world-class connectivity to Old Street Roundabout, reports Derwent London.

Wired Certification was launched by the Mayor of London in November. It acts as a trusted mark for buildings independently certified as providing leading-edge digital infrastructure. This gives greater transparency to tenants before signing a lease and provides landlords with the necessary insights to improve their buildings’ connectivity standards.

The Wired Certified Platinum for Development & Redevelopment rating at White Collar Factory is part of a broader initiative from Derwent London, who are pursuing Wired Certification on 18 properties across their portfolio, providing information and transparency about quality connectivity and latest technology infrastructure to their tenants. The Group’s aim is to deliver the best internet connectivity on all its properties.

Philippa Davies, Leasing Surveyor, Derwent London commented:

“With so many tenants working in the creative and digital industries, providing world-class connectivity and infrastructure is vital to enable entrepreneurs to grow their businesses. We brought fibre into the building to ensure White Collar Factory is equipped with premium connectivity in an area of London often criticised for poor broadband.

“WiredScore’s independent connectivity accreditation allows us to highlight the first class levels of connectivity at White Collar Factory and sets the standard for innovative and progressive landlords who hope to attract top businesses in London’s booming digital economy.”

William Newton, UK director, WiredScore said:

“Technology is playing an increasingly important role in the growth of London’s digital economy. That’s why it’s critical that businesses are offered independent intelligence into the standards of connectivity in prospective office spaces.

“It is great to see the likes of Derwent London understanding and prioritising the digital needs of tenants at White Collar Factory and other buildings in their portfolio. Providing insight into a building’s connectivity from the development stage helps landlords and project managers embed and improve technology infrastructure from the earliest stages of design”.

Buildington
2016/05/13 09:18

Capital One has signed to take two floors at the White Collar Factory overlooking Silicon Roundabout.

The decision was driven by business expansion and the depth of the local talent pool. This scheme and location has attracted a broad range of expanding businesses and Capital One will be joining Adobe, AKT II, BGL and The Office Group in the property.

Capital One, the major credit card company, has pre-let 29,500 sq ft on the ninth and tenth floors on an eleven year lease in order to accommodate 200 new staff as well as its existing 50 London-based employees.

The White Collar Factory development comprises a 237,000 sq ft 16-storey tower with 56,000 sq ft of additional office campus, restaurants, and residential surrounding a new public square to be called “Old Street Yard”. It incorporates a number of original “long life: loose fit” architectural features to provide the most suitable space for modern occupiers.

The Group has now pre-let 60% of the tower, equating to 142,100 sq ft, achieving £8.6m pa of net rental income. The total scheme is 48% pre-let, with only the premium upper five floors of the tower and the additional lower rise campus space still to be let.

John Burns, Chief Executive Officer of Derwent London, commented:

“We are very pleased to welcome Capital One to our portfolio, and that the White Collar Factory’s innovative design continues to attract a wide range of top quality businesses.”

Chris Newkirk, Capital One UK’s CEO, said:

“We are on a bold quest at Capital One to bring ingenuity, simplicity and humanity to an industry ripe for change. Still founder-led today, we have stayed true to our founding imperative to hire great people and enable them to do amazing things – it’s therefore fit to provide a superb environment for them to work in at a perfect location. These new offices will provide a superb working environment as well as an ideal location to host meet-ups and events for the technology sector. This will help us become an integral part of the tech community in London and will play a pivotal role in our future success in the UK.”

Derwent London’s letting agents on White Collar Factory are Cushman & Wakefield and Pilcher Hershman. Capital One was represented by CBRE.

Buildington
2015/10/22 23:03

BGL financial services group has pre-let 14,300 sq ft on the sixth floor of White Collar Factory. It will be a complementary digital hub for the BGL Group and its brands, which include comparethemarket.com. BGL is taking a 10-year lease with rental incentives equivalent to an 18-month rent free period.

White Collar Factory is now almost 30% pre-let with completion due in Q3 2016.

John Burns, Chief Executive Officer of Derwent London, commented:
“We are delighted to welcome BGL to our portfolio. These lettings demonstrate the strong positive occupier and rental momentum in the Tech Belt, and for our landmark development at White Collar Factory”.

Matthew Donaldson, Chief Executive of BGL, commented:
“We’re delighted to be establishing our presence in London with these first class, modern offices which complement our Peterborough HQ and our progressive, digital business.”

Derwent London was represented by Cushman & Wakefield and Pilcher Hershman, and Deloitte acted for BGL.

Buildington
2015/07/14 22:45

The Office Group, a leading provider of design-led and flexible offices and co-working spaces, and structural engineers AKT II, are taking 5 floors in the 16-storey office tower at White Collar Factory.

The combined rent totals £4.0m per annum, or £57.50 per sq ft, which is 12.7% above the Estimated Rental Value on these lower floors at December 2014. Both leases have compounded annual inflation increases with an annual floor of 2% and a cap of 4% for at least five years which takes the rent to between £63.50 and £70.00 per sq ft at first review.

The Office Group will be taking a 20-year lease, without breaks, on the first to third floors, amounting to 41,300 sq ft. The rent is £2.4m per annum with rental incentives equivalent to a 24 month rent free period. The rent is inflation linked and rises on the fifth and tenth years based on the floor and cap arrangement.

AKT II has agreed a 20-year lease on the fourth and fifth floors, totalling 28,400 sq ft, at an initial rent of £1.6m per annum. There are tenant breaks in years 12 and 15 and a rental incentive equivalent to a 24 month rent free period. The initial rent rises with inflation, on the same floor and cap basis, at first review.

White Collar Factory will be a 237,000 sq ft landmark office building that incorporates innovative and sustainable design with 3.5m high ceilings, concrete core cooling, openable windows and the ability to accommodate flexible occupation. The tower will have a communal roof terrace with a running track and forms part of a new urban campus that is complemented by five low-rise buildings and new public realm. These latter properties provide 39,000 sq ft of office space, 9,000 sq ft of restaurant and retail space and 8,000 sq ft of residential. The scheme, designed by leading architects AHMM, is on schedule and due to complete in Q3 2016.

John Burns, Chief Executive Officer of Derwent London, commented:

“We have made an excellent start with the letting of almost 25% of the White Collar Factory to two occupiers who share our vision for this exciting multi-tenanted urban campus. The initial rent is above our expectations and sets the tone, which we expect to improve as we let the upper floors of the building.”

Lloyd Dorfman, Chairman of The Office Group, commented:

“We are delighted to have secured space in another prestigious building in London. Our footprint in the Capital continues to grow along with the demand for the services we offer. We are looking forward to maintaining our successful relationship with Derwent London as we build another thriving and diverse business community in the White Collar Factory.”

Derwent London was represented by Pilcher Hershman, DTZ and Cushman & Wakefield.

Buildington
2015/02/27 12:32

Demolition finished in August 2014 and the development is due for completion in around 18 months’ time, reports Derwent London in annual results for 2014.

White Collar Factory is a significant development for two reasons:

1. Its scale: it has a total estimated cost, including land, of c.£200m. The commercial element is expected to provide an ERV of £14.7m and there are also nine apartments.

2. The development encapsulates thoughts on what constitutes the most attractive space for today’s creative businesses. Derwent London has seen that a number of their most successful offices, which have enjoyed resilient demand, are buildings originally designed for industrial use, such as Tea Building E1, Greencoat and Gordon House SW1 and most recently The Buckley Building EC1. The White Collar Factory provides new offices in an industrial frame which will give occupiers robust and flexible space, with above average volume and strong sustainability credentials.

Source: Derwent London Annual Results for 2014

Buildington
2014/02/27 20:17

White Collar Factory in Old Street, London EC1 - new mixed-use development on Buildington!

*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.

New London developments on Buildington - monthly update

New Developments