Regal’s workspace brand has agreed to prelet 63,527 sq ft to National Lottery operator Allwyn at its Watford office development, the Clarendon Works.
Allwyn will occupy six floors of the grade-A speculative development, relocating from its existing office on Tolpits Lane, also in Watford. The operator plans to move in by spring 2025.
The deal equates to 45% of the development’s floorspace and takes the building to nearly 80% prelet. The scheme is expected to open in Q3, after works complete in June.
Regal said the new building would help Allwyn deliver on its commitments around social value and net zero. It will be 100% powered by renewable energy and is targeting BREEAM Excellent and EPC A ratings. It has also been pre-certified under the WELL Standard and already achieved Active Score and WiredScore Platinum statuses.
The agreement comes after Seiko Epson Corporation inked a deal to occupy 30,530 sq ft at the scheme in February this year. Flexible offices provider YoooServ signed for 16,795 sq ft in November last year, and will manage the 13,767 sq ft of amenity space and services throughout the building.
Paul Eden, co-founder of Regal, said: “With the Clarendon Works now merely a month from completion – and with two international brands confirmed soon to call it home and many more Watford-grown entrepreneurs and businesses having the opportunity to take flexible office space with YoooServ – we look forward to completing construction, opening the doors of the building to welcome its first generation of employees, and continuing Regal’s journey in the office development market.”
Allwyn chief executive Andria Vidler said the National Lottery and Watford “go hand in hand”. Vidler added: “This marks our commitment not only to Watford and the wonderful community here, but to our ambition to create a net zero National Lottery with a more modern, sustainable head office fit for our future plans.”
Regal launched its Regal Workspace brand earlier this year. It offers construction, asset management and occupier engagement services on behalf of its partners.
Bray Fox Smith and Lambert Smith Hampton are letting agents for Clarendon Works. Cushman & Wakefield advised Allwyn.
Image from Regal
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