CBRE Investment Management Secures Two Lettings at 5 Howick Place in London’s Victoria
November 3, 2022
CBRE Investment Management (“CBRE IM”) has agreed two leasing deals at 5 Howick Place in excess of 40,000 sq ft (3,700 sq m), leaving just one floor available in the recently refurbished office scheme in London’s Victoria.
Pemberton Asset Management, a leading alternative credit specialist, has signed up to take 20,000 sq ft (1,850 sq m) on the third floor of the building, while events and publishing business Informa has renewed its lease for 20,000 sq ft (1,850 sq m) on the second floor. Other occupiers in the 170,000 sq ft (15,800 sq m) building include Orsted, Giorgio Armani and Native.
The lettings follow a refurbishment of the building that has improved its sustainability performance, remodeled the reception area, upgraded the bike racks, showers and lockers, and landscaped the 4,400 sq ft (410 sq m) communal roof terrace, providing a relaxing, green area with extensive views across London.
The two leasing deals leave only the 20,000 sq ft (1,850 sq m) first floor available, which is currently undergoing refurbishment and will be ready to occupy in January 2023.
Nick White, Director at CBRE Investment Management, said: “These two deals demonstrate the strong appeal of 5 Howick Place in a competitive market for customer-oriented Grade A workspace. Our recent improvements to the building, both in terms of sustainability and the occupier experience, including an impressive, landscaped roof terrace, have cemented its position as one of the leading offices in Victoria.”
The mixed-use building includes 140,000 sq ft (13,000 sq m) of offices over eight floors, as well as 23 private residences and 10 affordable apartments, plus retail at ground-floor level. It is rated BREEAM Excellent with an EPC B and includes ground source heat pumps, solar panels, and a green living wall. It has been awarded an ActiveScore Platinum - the world's leading system for assessing and certifying active travel provision in buildings.
Located just off Victoria Street and around the corner from Nova, the retail and food destination, 5 Howick Place is a two-minute walk to Victoria Station, which benefits from Mainline train and Underground (Victoria, District and Circle lines) services and is the UK’s second busiest train station by total entries and exits.
Pemberton Asset Management was advised by Crossland Otter Hunt. Informa was advised by JLL. CBRE Investment Management was advised by Cushman & Wakefield and CBRE.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $146.9 billion in assets under management* as of June 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.