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29-33 Berners Street in Fitzrovia, London W1

29-33 Berners Street in Fitzrovia, London W1

13. June 2010
View to Berners Street in Fitzrovia, London W1. 29-33 Berners Street is on the left hand side.

View to Berners Street in Fitzrovia, London W1. 29-33 Berners Street is on the left hand side.

9. June 2012

The Copyright Building

Address:
29-33 Berners Street, London W1T 3AB
Type:
Commercial
Completion:
Autumn 2017
Area:
 107,150 sq ft
Offices:
1
Retails:
1
Viewed:
4156

Description of The Copyright Building

Copyright Building at 29-33 Berners Street is a commercial building in Fitzrovia, London W1.

The building is currently being redeveloped.

The development will provide 85,000 sq ft of offices and 20,000sq ft of retail, which represents a 22% uplift on the existing area.

2017 July - Derwent London sells the long leasehold interest in The Copyright Building to Union Investment Real Estate GmbH. Completion of the sale is in Q4 2017 after the building has been completed. CBRE and Strutt & Parker acted for Derwent London and JLL acted for Union Investment.

2016 July -  87,150 sq ft of offices pre-let to Capita in Q1 2016; £7.4m pa (gross) / £6.5m pa (net); 20-year lease with no breaks;  Rental incentives equivalent to a 34 months rent-free period

2016 February - the entire office element, 87,150sq ft, is let to Capita on a 20-year lease.

2014 - Derwent London agrees to a new 127-year headlease with the freeholder.

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Completion is expected in Q4 2017.

Office Agents: HMC, Strutt & Parker and Deloitte Real Estate

Retail/Restaurant Agents: Shelley Sandzer, Shackleton

Connected Companies

Manager:
Main Contractor:
Architect:
Lettings:

Buildington Rating & Notes

News & Comments: (7)

Buildington
2017/08/11 06:23

Two out of three retail units at The Copyright Building are let or under offer.

Source: Interim Results 2017, Derwent London Plc. 10.8.2017

Buildington
2017/02/28 10:31

Derwent London has just started to market the remaining 20,000 sq ft of retail and restaurant space at The Copyright Building.

The project remains on course for delivery in the second half of 2017.

The ERV of the building is £7.3m net, and the remaining capital expenditure is £24m.

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

Buildington
2016/11/18 09:14

The Copyright Building has topped out!

A ceremony event hosted by Derwent London and Skanska saw over 120 people come together to congratulate the project team on completing the building’s main structure.

Located in the West End of London, The Copyright Building is a 9,950sqm commercial development designed by Piercy & Company. When complete, the scheme will provide retail space on the ground and lower ground floors and offices across seven floors featuring two roof terraces.

Speaking at the ceremony Skanska Managing Director Steve Holbrook said: “I’m extremely proud to be here today to celebrate this fantastic achievement. It’s been great to be involved in this distinctive development, a notable addition to our portfolio of office and retail schemes in the capital. I would like to thank everyone who has been involved in the project so far and wish the team continued success as the development continues through to completion.”

Director of Derwent London, Paul Williams, added: “This is a very exciting day for us, with The Copyright Building becoming a reality and taking its place as a new landmark building in Fitzrovia. We believe the building will provide a fantastic home for Capita with its high quality office space, expansive roof terraces with panoramic views across central London and comprehensive cycling and shower facilities.”

Topping out is a phrase used to describe the traditional celebration of the completion of the building's main structure. Dating back to pagan times, this ceremony is said to bring luck and prosperity on the occupants of the new structure. An evergreen tree is hoisted over the building, which is said to ward off evil spirits.

Works are due to be completed in autumn 2017.

Buildington
2016/02/28 08:18

Strutt & Parker has advised Derwent London on the pre-letting of the office element of The Copyright Building on Berners Street to Capita Business Services Limited.

Capita has agreed to take 87,150 sq ft at a rent of £7.4m. This includes the ground floor reception of 1,500 sq ft and office floors one to seven. Capita will be taking a 20-year lease with no breaks at an average office rent of £86 per sq ft.

The Copyright Building, located in Fitzrovia, is immediately to the south of Fitzroy Place and opposite the Sanderson Hotel. In October 2014 Derwent London's scheme received planning consent and, shortly after, a new headlease was agreed with the freeholder taking the lease term to 127 years with a gearing of 12.5% of rents. The scheme commenced in January 2015 and is due to complete in H2 2017. In addition to the office space, there is 20,000 sq ft of A1/A3 retail.

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

"The Copyright Building is an exciting and dynamic new development and we are delighted that Capita has chosen it as their new UK head office. Since its purchase in December 2012 we have gained planning consent, acquired an interest in a building that completed the site assembly, regeared the headlease, and maintained full occupation until we were ready to start on site."

Derwent London was represented by Deloitte Real Estate, Strutt & Parker and HMC and Capita acted on their own behalf.

Buildington
2016/02/26 08:34

Derwent London has awarded Skanska a £45 million fixed-price contract to design and build a commercial development on Berners Street in Fitzrovia.

Designed by Piercy & Company, the 9,800m2 scheme will be a mixture of retail and offices. The ground floor will provide 1,850m2 of retail space. There will be 7,950m2 of fully fitted out category ‘A’ offices across seven floors with two floors of roof terraces.

Skanska Managing Director Paul Heather said: “We are delighted to have been awarded our first project for Derwent London, a developer which Skanska has wanted to work with for many years. We look forward to developing our working relationship through the successful delivery of the Copyright Building.”

Derwent London Head of Development Richard Baldwin said: “We are very pleased to have appointed Skanska as the main contractor on the Copyright Building. Together we will deliver a first class office and retail scheme in one of London’s most attractive areas.”

The scheme is targeting the BREEAM Excellent environmental standard, using sustainable approaches throughout the construction phase and installing solar panels on the building’s green roof.

To deliver this project, Skanska has put together a specialist in-house team to combine its skills in design, construction, mechanical and electrical engineering and ceiling installation. The team will install and commission chilled plasterboard ceilings, which are new to the UK, to all of the seven upper floors.

Works are expected to be completed in autumn 2017.

Buildington
2015/05/07 18:54

The site of The Copyright Building, 25-33 Berners Street W1 is under demolition.

Source: First Quarter Business Update by Derwent London 7. May 2015 www.derwentlondon.com

Buildington
2015/02/26 22:24

Work has commenced on 105,000 sq ft at The Copyright Building reports Derwent London plc in its Annual Results for 2014.
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*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.

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