Legal and professional services organisation Parabis has leased the remaining office space in the Renaissance office development in Croydon comprising the ground and third floors and totalling 37,125 sq ft.
The news follows the announcement in May that Mott MacDonald, have taken 20,997 sq ft, comprising the entire fourth floor.
Parabis and Mott Macdonald join The Board of the Pension Protection Fund who took 40,241 sq ft in the building in May 2013.
Renaissance, the first speculative office in Croydon for around 20 years, was completed in November 2013 by Mark Glatman’s Abstract Securities who sold the office development in Dingwall Road, three months ahead of completion, but retained a marketing role working closely with the new owners, M&G Real Estate.
Abstract’s Development Director, Christopher McPherson, commented: “Renaissance has been a success story for Croydon and for Abstract. We not only identified an opportunity at a time where others doubted the potential, but we moved swiftly to invest and to deliver a great product which is completely in tune with occupier sentiment as evidenced by fully letting 100,000 sq ft of offices within 10 months of completion.’’
Mark Glatman said: ‘’The success of our Croydon scheme vindicates our ‘uncompromising value’ approach to development and, with the same rationale being adopted at our St Vincent Plaza scheme in Glasgow and Leonardo scheme near Gatwick, we remain optimistic. These schemes offer the most cost effective new build Grade A office space in the UK bar none and, together with good environmental credentials, low running costs and efficient densities of occupation, will be significantly more economical to occupy than most older offices – tenants can actually save money by moving into a brand new Abstract building’’.
Renaissance provides 100,000 sq. ft. of 'Grade A' office accommodation comprising five floors offering flexible floor plates of 20,000 sq. ft. The building is one of the first speculative builds in the UK to achieve a BREEAM (2011) 'Excellent' standard and recently won a national award for Sustainable Achievement.
Knight Frank and Sinclair Clark are retained in a letting capacity.
For more information, please contact:
T: 0207 747 8272
T: 020 7747 8282
Established in April 2000 by Mark Glatman, the Abstract Group of Companies specialises in commercial property investment, development and venture capital financing. The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements.