Derwent London has announced that it has let the top two floors of the tower at White Collar Factory EC1 (pictured) to Box.com, the cloud content management company. The initial rent is £2.1m per annum or £75 per square foot, which is above December 2016 ERV. Derwent London says that Box.com will occupy 28,500 square feet, on a fifteen-year lease, with five-year rent reviews and a break in year ten. The rent free period is equivalent to eighteen months on a ten-year lease, rising to twenty three months on a fifteen-year term.
The White Collar Factory scheme is now 83% let
Derwent London says that, following this letting the tower is 92% let with circa 7,000 square feet of offices remaining on part of the 12th floor. It says that the whole development is now 83% let. Derwent London says that The White Collar Factory scheme has only recently been completed and the first tenants are already in occupation and creating an energetic new community in what it describes as, “this new landmark at the heart of the capital’s Tech Belt”.
The scheme
The White Collar Factory tower comprises 237,000 square feet and is the principal building within the office-led campus. Derwent London says that it incorporates innovative and sustainable design with 3.5m high ceilings, concrete core cooling, openable windows and the ability to accommodate flexible occupation. There is a further 39,000 square feet of offices, three restaurants and nine apartments surrounding new public space.
Box.com joins the White Collar Factory line up
John Burns, Chief Executive Officer of Derwent London, says that, “The addition of Box.com to an already strong line-up of occupiers is a great endorsement of both Derwent London’s product and the Tech Belt area. Our decision to develop an innovative office campus which ensures occupier flexibility and incorporates industry-leading sustainability features has been fully justified by the excellent response the building has received.”
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Derwent London announces letting to Box.com at White Collar Factory : DLN