London
CBRE Investment Management Lets 17,000 sq ft at The Buckley Building to HR Tech Platform HiBob
June 21, 2022
Associated Contact
Helen Stott
Corporate Communications Director
CBRE Investment Management has let 17,000 sq ft at The Buckley Building in Farringdon, London to HiBob, a global HR technology platform, on a six-year lease.
CBRE Investment Management acquired the property in 2019 and the 85,000 sq ft former 1930s factory is multi-let to four office tenants and one retail tenant.
The Buckley Building is a benchmark for contemporary office design and the first floor, which has been leased to HiBob has been comprehensively refurbished. Prominently overlooking Clerkenwell Green, the former warehouse offers a refined industrial aesthetic throughout.
The property benefits from its close proximity to excellent transport links with the new Farringdon Crossrail station minutes away. Farringdon provides an interchange with Thameslink, Crossrail and London Underground and is to become one of the most accessible locations in central London.
With the anticipated opening of Crossrail, leasing activity has been strong in the Farringdon / Clerkenwell submarket. Take up reached 310,000 sq ft in Q4 2021 which was ahead of the ten-year average of 240,000 sq ft.
“Farringdon is one of Central London’s most dynamic and well-connected sub-markets in Central London and with an undersupply of Grade A office space and significant active demand, we were not surprised by how quickly we secured the letting with minimal void,” commented Nick White, Asset Manager at CBRE Investment Management. “A strong rental tone has been set within The Buckley Building, which demonstrates the strength of our investment and why well-located, well-designed, sustainable office assets are continuing to prove attractive. We are delighted to welcome HiBob to The Buckley Building.”
Toby Hough, People and Culture Director, EMEA at HiBob added: “Hibob has experienced exponential growth over the last year, almost doubling in size globally. In the UK alone the staff base has grown by 300% and we’re committed to ensuring we continue to provide exceptional employee experience throughout this growth trajectory. We want each and every ‘Bobber’ to feel proud in the workplace and invested in being part of the movement that drives an amazing culture. In this way, Hibob is committed to supporting each individual in fulfilling their full potential. Inspiring surroundings have long been the tenet of productivity. We’re delighted to be moving into such an iconic building, nestled in one of London’s most stimulating business communities.”
CBRE Investment Management has recently acquired several assets in the area including Atlantic House, 30 Farringdon Street, 6 Brewhouse Yard and 83 Clerkenwell Road.
Compton & CBRE advised CBRE Investment Management; Kontar advised HiBob.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $146.8 billion in assets under management* as of March 31, 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.
CBRE Investment Management acquired the property in 2019 and the 85,000 sq ft former 1930s factory is multi-let to four office tenants and one retail tenant.
The Buckley Building is a benchmark for contemporary office design and the first floor, which has been leased to HiBob has been comprehensively refurbished. Prominently overlooking Clerkenwell Green, the former warehouse offers a refined industrial aesthetic throughout.
The property benefits from its close proximity to excellent transport links with the new Farringdon Crossrail station minutes away. Farringdon provides an interchange with Thameslink, Crossrail and London Underground and is to become one of the most accessible locations in central London.
With the anticipated opening of Crossrail, leasing activity has been strong in the Farringdon / Clerkenwell submarket. Take up reached 310,000 sq ft in Q4 2021 which was ahead of the ten-year average of 240,000 sq ft.
“Farringdon is one of Central London’s most dynamic and well-connected sub-markets in Central London and with an undersupply of Grade A office space and significant active demand, we were not surprised by how quickly we secured the letting with minimal void,” commented Nick White, Asset Manager at CBRE Investment Management. “A strong rental tone has been set within The Buckley Building, which demonstrates the strength of our investment and why well-located, well-designed, sustainable office assets are continuing to prove attractive. We are delighted to welcome HiBob to The Buckley Building.”
Toby Hough, People and Culture Director, EMEA at HiBob added: “Hibob has experienced exponential growth over the last year, almost doubling in size globally. In the UK alone the staff base has grown by 300% and we’re committed to ensuring we continue to provide exceptional employee experience throughout this growth trajectory. We want each and every ‘Bobber’ to feel proud in the workplace and invested in being part of the movement that drives an amazing culture. In this way, Hibob is committed to supporting each individual in fulfilling their full potential. Inspiring surroundings have long been the tenet of productivity. We’re delighted to be moving into such an iconic building, nestled in one of London’s most stimulating business communities.”
CBRE Investment Management has recently acquired several assets in the area including Atlantic House, 30 Farringdon Street, 6 Brewhouse Yard and 83 Clerkenwell Road.
Compton & CBRE advised CBRE Investment Management; Kontar advised HiBob.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $146.8 billion in assets under management* as of March 31, 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.