CBRE is planning to move its facilities management team to HB Reavis’ 61 Southwark Street, SE1.
The advisory giant has placed the entire 75,000 sq ft of offices in the building under offer, creating a new base for the team which is currently spread across multiple offices.
CBRE will take a 15-year lease on the workspace, where quoting rents start at around £65 per sq ft for the lower floors and rise to more than £70 per sq ft for the highest floors.
HB Reavis is carrying out a comprehensive refurbishment of the nine-storey 1970s’ office building, which is also known as Cooper & Southwark.
Designed by architects TateHindle, the refurbished building will include additional floor space, terraces on the fifth and sixth floors, and a new self-contained unit on Great Guildford Street. The refurbishment and extension are due for completion in 2018.
The building, which marked the company’s first refurbishment scheme in the UK, was acquired in May 2016 from Aberdeen Asset Management for £44m. Earlier this year, HB Reavis agreed a £47m development finance deal with Lloyds Bank Commercial Real Estate for refurbishment, in a deal which marked the first loan facility agreed by the Slovakia-headquartered developer with a major UK bank since entering the London market in 2013.
Knight Frank and Colliers International are joint leasing agents on the building.
All parties declined to comment.
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