The new office building at 33 King William Street has completed, reports John Robertson Architects.
HB Reavis has sold the building to US bank Wells Fargo & Company. The new office development is the first real estate purchase outside the US for Wells Fargo and it will be the company’s headquarters in London.
33 King William Street is a landmark new 11-storey office building situated at the northern corner of London Bridge. The glass and faience clad building uniquely reflects its historic surroundings whilst providing modern facilities including a double height entrance hall and lounge, light-filled flexible office space and a roof garden with panoramic views of London.
The building's third of an acre roof garden, landscaped by Townshend Landscape, is one of the key features of the building.
Read more at jra.co.uk.
06/01/2018 10:33 by Buildington
HB Reavis has secured £127 million financing for 33 Central.
The largest loan facility in HB Reavis’ history has been provided by two German banks, pbb Deutsche Pfandbriefbank and Deutsche Hypothekenbank, new lenders in HB Reavis’ portfolio of credit relationships. The facility has been already utilised and enabled to refinance equity spent by HB Reavis into the project.
With this financing HB Reavis adds two new lenders in its portfolio: pbb Deutsche Pfandbriefbank, a leading European specialist bank for real estate financing and public investment finance and Deutsche Hypothekenbank, one of the most renowned German banks for commercial real-estate financing.
Upon completion in Summer 2017, 33 Central will provide 21 000 sq m of Grade A office space over 9 floors and a quarter acre roof top garden offering panoramic views of London’s most famous landmarks including the Shard, St. Paul’s, the “Walkie Talkie” office building and the River Thames. The building, targeting a BREEAM Excellent rating for its sustainable design, has been recognized through numerous awards, such as the ‘Best Office Architecture London’ at the UK Property Awards 2015.
Marian Herman, Group CFO at HB Reavis said: “We are very pleased to open credit relationships with two new lenders, pbb Deutsche Pfandbriefbank and Deutsche Hypothekenbank on the London market, where we are actively increasing the scale of our operations. This financing endorses the quality of 33 Central and demonstrates the trust financial institutions place in HB Reavis as a highly credible partner. The loan facility helped us optimise our capital structure, following significant divestments in 2016 that reduced our leverage levels.”
31/05/2017 16:53 by Buildington
33 Central development reached a major milestone in construction when it was topped out this week, reports HB Reavis.
33 Central is international real estate developer HB Reavis’ first London development and is on target for completion in Q3 of 2017.
Joined by Christine Rigden on 19th September 2016, Sheriff of the City of London, HB Reavis celebrated the topping out of its impressive 227,000 sq ft workspace by tightening the final bolt on the eleven-story structure. They also dedicated a yew tree, a symbol of prosperity, for good luck.
Tomas Jurdak, UK CEO of HB Reavis, commented: “We are extremely proud to celebrate this key construction milestone on our flagship London development. 33 Central delivers a combination of connectivity, sustainability and value, within an amenity rich, central London location. In all schemes, we are committed to delivering creatively designed, collaborative workplaces that directly respond to the needs of occupiers, and we are certain that the new owner and future occupier Wells Fargo will enjoy the quality and character of 33 Central.”
Sheriff Dr Christine Rigden added: “The City of London certainly is open for business. The progress of 33 Central’s development and its recent sale to such a reputable international financial institution is clear proof of this. One of the single largest office deals in the City of London market this year, this is a significant endorsement of the continued strength of the City.”
Read more http://hbreavis.com/en/hb-reavis-celebrates-topping-first-london-development-33-central/
21/09/2016 16:09 by Buildington
Developer HB Reavis is selling 33 Central to Wells Fargo bank in the U.S.
After completion in Q3 2017, 33 Central, which is HB Reavis’ first London development, will allow Wells Fargo to consolidate all of its London-based team members in a single location.
HB Reavis planned to retain and lease 33 Central, seeing it as a major London landmark office with significant long-term investment potential. After initial leasing discussions Wells Fargo approached HB Reavis expressing the wish to own and occupy 33 Central. HB Reavis agreed then to forward sell the shares in its subsidiary which owns the development. The disposal represents one of the largest owner-occupier deals to be concluded in the City of London market in the current cycle.
The 21,000m2 new build is designed by John Robertson Architects, which worked alongside HB Reavis’ in-house design and technical experts to combine stunning design with state-of-the-art technical solutions. Following the sale, 33 Central will continue to be developed by HB Reavis.
Once completed, 33 Central will provide large flexible office floor plates and state of the art facilities that maximize natural light and outside space, while making the most of the spectacular surrounding views. Features of the new eleven-storey building, constructed to BREEAM Excellent standard, include a double height reception of over 400 sq m and an over 1000 sq m roof top garden offering panoramic views of London’s most famous landmarks including the Shard, St. Paul’s, the ‘Walkie Talkie’ building and the River Thames.
The scheme’s central location also provides strategic transport links to several underground and national rail stations, as well as walking distance to some of London’s major cultural sites such as the Tower of London and Borough Market.
Radim Rimanek, Board Member of HB Reavis Group responsible for the UK market said: “Wells Fargo’s decision to partner with HB Reavis is a great endorsement for us. It validates our vision to deliver truly remarkable, design-led workspaces, carefully tailored for people who work there, live near or visit. We will continue to embed the same quality and cutting-edge solutions that made 33 Central a success in our other existing and future projects.”
Marian Herman, Chief Financial Officer of HB Reavis Group remarked: “Many have doubted what will happen to the real estate market after the Brexit vote. We see the successful signing of this deal as strong endorsement of the quality of our real estate solutions, as well as the resilience of the HB Reavis business even under seemingly challenging market conditions. This divestment, although initially not envisaged given the original strategy to retain and lease, strengthens our balance sheet and will allow us to continue investing in similar high-quality development opportunities in London and elsewhere.”
Knight Frank and Deloitte were agents for 33 Central, and CBRE advised Wells Fargo.
HB Reavis’ London development programme also includes 7500 sq m of office space at 20 Farringdon street and 7000 sq m at 61 Southwark.
Read more http://hbreavis.com/hb-reavis-sells-first-london-development-major-us-bank-wells-fargo/
19/07/2016 10:26 by Buildington
Leading commercial property developer HB Reavis has launched ‘33 Central’, the new brand for its first UK development at 33 King William Street, London.
The new brand, which exemplifies the building’s truly central London location, was unveiled on September 30th at an official launch event at The Shangri-La at the Shard in London SE1.
HB Reavis acquired the development site in 2013, marking its entry into the London office market. The site, which has planning for a new 228,000 sq ft Grade A office building, is located centrally between Canary Wharf to the east, Westminster to the west, Southwark to the south and Shoreditch’s Tech City to the north.
Its location also affords excellent transport links being less than a mile from six mainline stations and seven underground lines and less than a minutes’ walk from both monument and Cannon Street stations. Furthermore, 33 Central is located within a short walk of over 200 places to eat, drink, stay and shop.
33 Central has been designed by John Robertson Architects to offer a contemporary working environment that maximizes natural light and outside space, while making the most of the spectacular surrounding views. Features of the new nine-storey building include a double height reception of over 4,300 sq ft and a quarter acre roof top garden overlooking the River Thames and other iconic London landmarks. It also offers large flexible office floor plates and state of the art facilities. 33 Central is targeting a BREEAM excellent rating for its sustainable design.
Demolition works commenced in June 2014 with construction scheduled to begin in the first half of 2015 and completion expected in the second half of 2016. HB Reavis has appointed CORE as development adviser, and Deloitte Real Estate and Knight Frank have been jointly instructed to market 33 Central to prospective clients.
HB Reavis is expanding its London business and is actively looking to acquire further assets while continuing to strengthen its London-based team.
Tomaš Jurdák, Director of HB Reavis UK said: “The launch of our new branding for 33 Central marks a key milestone for HB Reavis London and we now look forward to executing the development and marketing of this unique office building. HB Reavis has a long and successful track record of development and we are confident that 33 Central will be amongst the biggest success stories in our company's history, as we continue to seek further opportunities in the London market”.
Visit the development site at www.hbreavis.com/33-central.
Source: HB Reavis www.hbreavis.com
03/10/2014 00:41 by Buildington
33 King William Street - new on Buildington!
20/01/2014 13:33 by Buildington