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New Leases Take £2.5B 22 Bishopsgate Close To Full Occupancy

Two new signings have brought 22 Bishopsgate close to full occupancy.

AXA IM Alts has agreed to three new leases for more than 65K SF at 22 Bishopsgate, bringing the 62-storey office tower's occupancy to circa 92%.

Westfield Specialty, a subsidiary of the 175-year-old U.S. insurance company Westfield, and financial services provider Canada Life have each signed for 25K SF, taking the 36th and 37th levels on 10-year and 15-year leases, respectively. Fidelis MGU occupies Level 42 and is set to extend its footprint to take an additional half-floor, with move-in scheduled at the end of 2024.

The 22 Bishopsgate building includes more than 120K SF of shared space and amenities including a 20K SF food hub, a central innovation centre and 53K SF of meeting, events, and conference space and flexible and coworking spaces.

“We now have 23 occupiers across seven broad sectors in the building, in addition to the range of smaller businesses and start-ups in our coworking and innovation spaces,” AXA IM Alts Senior Asset Manager Phillip Shalless said in a statement. “This mix is key to fostering collaboration and a sense of community.  Additionally, Fidelis MGU is now our third occupier to expand its presence in the building.”

The building cost £1.4B to build, and in September last year it was refinanced at a valuation of about £2.5B.

Separately, Helical and Ashby Capital have let the first, second and third floors comprising 68K SF of offices at The JJ Mack Building, 33 Charterhouse Street, EC1, to Sainsbury's. The retailer is expected to relocate its existing London head office from 33 Holborn, a few hundred yards away, to the new building in the next two years.

The recently developed JJ Mack Building totals 201K SF of offices across 11 floors and 5,400 SF of ground-floor retail. It has an energy performance certificate rating of A and is anticipated to receive both a BREEAM Outstanding rating and a NABERS 5-star assessment for energy in use. 

With the sixth and seventh floors, totalling 38K SF, let to Partners Group and the 13K SF ninth floor let to Corio Generation, part of Macquarie Group, The JJ Mack Building is 58% occupied.