Description of Carmelite Riverside
Carmelite Riverside is a speculative office development in the City of London overlooking the Thames.
- 130,000 sq ft Grade A headquaters office building
- Joint venture between Quadrant Estates and Orion Capital Managers
The Thameside site, which was previously Taylor Wessing's HQ and originally built in 1992, provides 130,000 sq ft of net office space. Quadrant and Orion have refurbished the existing building with gross development value of £120 million.
The building was rebranded Carmelite Riverside after the purchase in 2012 and went through an extensive redevelopment lead by Quadrant Estates with contractor Morgan Sindall. Designed by Fletcher Priest Architects, the refurbished building now offers 135,000 sq ft of office space with 20,000 sq ft office floor plates, and a spectacular 7,600 sq ft roof terrace overlooking the Thames.
Carmelite Riverside will be completed on schedule in May 2014 following an extensive redevelopment of the original freehold building.
December 2013 - Orion Capital Managers and Quadrant Estates announce the exchange of contracts with publishing firm Hachette UK to take a long term lease of the whole of Carmelite Riverside,50 Victoria Embankment, London EC4. Hachette UK will occupy most of the 135,000 sq. ft. building, and in the new year will market two floors, amounting to just under 40,000 sq. ft. for sub-letting. Rent and lease terms are undisclosed. Hachette UK employs about 1,500 people in the UK, some at locations outside London. Its principal office is at 338 Euston Road, London NW1. Knight Frank and CBRE acted for Orion Capital Managers and Quadrant Estates and Jones Lang LaSalle acted for Hachette UK.
January 2013 - construction starts at Carmelite Riverside.
July 2012 - Orion III European 20 S.a r.l buys the building- the former Daily Mail HQ - and appoints Quadrant Estates as its development manager. The partially Grade II listed building at 50 Victoria Embankment, EC4, was sold as a vacant building by clients of Aberdeen Asset Management.
- Quadrant Estates www.quadrantestates.com