Grosvenor Britain & Ireland (Grosvenor), in joint venture with Stow Capital Partners, has fully let 33 Davies Street, Mayfair, with the remaining two floors being taken by AGC Equity Partners, who are relocating from St James’.
The news follows lettings to Troy Asset Management, Golden Tree Asset Management and Cain Hoy, who have all chosen to locate their businesses in the commercial hub of North Mayfair. They join Franck Namani, the Parisian cashmere brand, who opened their first UK stand-alone store at 33 Davies Street in the autumn.
The building is now let to:
Fifth floor (5,044 sq ft) - Cain Hoy
Fourth floor (5,998 sq ft) - Golden Tree Asset Management
Third floor (6,000 sq ft) - Troy Asset Management
First and Second floors (11,818 sq ft) - AGC Equity Partners
Ground and Lower Ground floors (7,624 sq ft) - Franck Namani
Commenting on the lettings, Charles Howard, Head of Office Leasing for Grosvenor’s London estate, said: “To have let the building within a year of its completion is a fantastic achievement and testament to the flexible and efficient nature of the offices, which provide a high level of specification in a prime Mayfair location.” There continues to be robust demand for office space in this location, reflected in the lettings at 33 Davies Street and the pre-letting of 20 Grosvenor Street to KPMG, and we have a further 25,000 sq ft office development pipeline in Mayfair for 2015 to help meet this discerning appetite.”
Craig McWilliam, Executive Director for Grosvenor’s London estate said:
“2014 has been a great year for North Mayfair, with the completion of a number of office schemes, the launch of The Beaumont Hotel and the transformation of Duke Street into an exciting new retail destination. It’s been wonderful to welcome so many new occupiers and customers to Mayfair as a result, who all help to make this a vibrant West End destination.”
Julian Milne, Managing Director of Stow said:
“The joint venture’s objective was to create at 33 Davies Street an exceptional commercial investment – a building of the very highest quality set apart from the competition and delivering the very highest standards of architecture, specification, sustainability and customer service. It is very rewarding, and a testament to the success of the project, that we have been selected by occupiers of such quality for their new space.
Located opposite Claridge’s Hotel, 33 Davies Street comprises 28,856 sq ft of office space and 7,621 sq ft of retail space. The scheme also demonstrates Grosvenor and Stow Capital Partner’s investment in public realm and art. Three bronze portcullis gates, approximately 3.6m in height and designed by artist Wendy Ramshaw, have been installed at the entrance of the building. Inspired by the scale and proportions of the entrances, the flowing lines and intersecting arcs are a reflection of the life and style of Mayfair. The gates also offer a practical use being lowered to pavement level at night time and raised during the day.
For more information contact:
Naomi Curtis/Sorrel Basher, Press Office
020 7312 6479/6101
Notes to Editors
Grosvenor Britain & Ireland
Grosvenor Britain & Ireland aims to create value through its skills in place-making and design, repositioning locations in ways that change customer perceptions and deliver results for our stakeholders. We own and develop an exceptional range of properties and locations in Britain and Ireland through two business units: our London estate, responsible for assets across 300 acres of Mayfair and Belgravia, and Grosvenor Developments, responsible for all off-estate activity in Britain and Ireland. Both teams have a common goal: to create great places for people to live, work and visit. As at 31 December 2013, Grosvenor Britain & Ireland had assets under management of £5bn.
Stow Capital Partners is an international property investment, development and management company with operations in the UK and Middle East. Stow invests in the prime end of the markets to which it is exposed. These include central London, central Beirut and aviation related investment at Farnborough Airport.
In London, Stow’s activities are focused on the West End where it holds a high quality portfolio of commercial and residential assets, including prime Mayfair offices, Oxford Street shops and Mayfair boutiques.