Member Article

Workspace acquires prime Fitzrovia office home to Arup’s London HQ

Property investment trust, Workspace Group, has announced it has signed an option agreement to acquire the freehold of 13-17 Fitzroy Street in Fitzrovia for £98.5m.

The deal, which Workspace expect to take place on 25 March, will see it take over the building from current owners and occupiers Arup, who are set to relocate to a new property in September 2020.

Spanning 92,700 sq ft over a lower ground and seven storeys, Workspace has said it plans to reconfigure the space once Arup vacate the property into a multi-let business centre featuring different sized units arrayed around the building’s central atrium.

Jamie Hopkins, Chief Executive Officer of Workspace, commented: “This is a really exciting purchase for Workspace, giving us a presence in an attractive location with a building ideally suited to our operational model.

“The transaction emphasises our commitment to expand further through targeted acquisitions, adding to our existing pipeline of refurbishment and redevelopment projects, to deliver superior value and returns to shareholders over the long-term.”

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