Creative workspace developer TCN announces several pre-lettings for Piano House in Brixton, including Soho House Group, adventure travel company, Intrepid Group, architectural practice, Martha Schwartz Partners, and technology company, Beauhurst, as part of the £3 million refurbishment of their 40,000 sq. ft. Victorian warehouse in Brixton, London.
Rental values for Piano House have reached a new peak of £47.50 per sq, ft. the highest rent achieved for the building to date and a testament to Brixton fast becoming a destination of choice for businesses.
TCN CEO, Richard Pearce, comments, “We bought Piano House with a vision of bringing something exciting to the heart of Brixton and it is very satisfying to see that vision coming to life. Brixton is a very special place, and we are determined that Piano House will continue to play a positive and enhancing role in keeping with Brixton’s unique character. Once the refurbishment is complete the end result will be a vibrant, mixed-use innovative cluster, combining workspace and leisure facilities, for the creative and media industries in the heart of this exciting part of London”.
Trading under their Chicken Shop restaurant brand, Soho House has taken a 20-year lease on the 3,089 sq. ft. basement area. This will be Soho House’s seventh Chicken Shop restaurant in London, creating an exciting new addition to Brixton’s lively restaurant scene.
Intrepid Group has taken a 10-year lease on 3,300 sq. ft. on the fourth floor of the building, and an additional 1,500 sq. ft. on the first floor. The adventure travel company is relocating to Brixton from their previous headquarters in Alton, with the move bringing them closer to a number of partners that they work with across the capital.
Michael Edwards, UK and Europe Managing Director of Intrepid Group said,
“Intrepid Group is entering an exciting phase of growth and expansion and Piano House in Brixton is the perfect place to do that. Vibrant, authentic and cool, Piano House is a great match for Intrepid’s needs and values. Being based in Brixton will give us access to the best talent and allow us to be part of a colourful and thriving local community.”
Relocating from Islington, Martha Schwartz Partners, a leading international architectural practice, whose work focuses on regenerating urban sites and city centres, is taking 2,700 sq. ft. on a 10-year lease on the second floor of Piano House.
A further letting to innovative tech analysis company, Beauhurst has also been secured, with the company taking the entire top floor of Piano House, totaling 3,500 sq. ft., on a 10-year lease. Relocating from Victoria, Beauhurst is an online platform providing subscribers with deep-data on fast growth companies, their deals and their investors.
These lettings form a fundamental part of TCN’s plans for Piano House. The Victorian warehouse building will be refurbished externally and internally, to feature a new entrance with café and events space, a new roof terrace offering views of the capital and the development of an unused alleyway on the side of the building, to become a new destination for pop up events. Internal improvements include new lifts and common areas, a fully refurbished warehouse style office space and increased collaboration space.
Councillor Paul McGlone, Lambeth Council, comments, “As a local councillor, I have worked closely with TCN over the years to develop a concept that works for Brixton, and are delighted with what Piano House will bring to the area. Introducing a new café and restaurant facilities, Piano House offers stylish new office space and a co-working club, attractive to small businesses”.
The refurbishment is scheduled for completion in August 2016.
Hanover Green is letting agent for the scheme.