Telefónica Digital & Halfords Media sign up for Regent Street offices

Quadrant 3 now 60% let as new tenants take 80,000 sq ft

Article posted: 11 Jan 2012

The Crown Estate have signed Telefónica Digital and Halfords Media to over 80,000 sq ft of office space on Regent Street at its AirW1 scheme, part of the Quadrant 3 redevelopment just off the southern end of the prestigious London street. The mixed use scheme, which completed four months ahead of schedule in November 2011, is now by rental value over 60% let.

Contracts have been exchanged with Telefónica and in February it will commence fitting out the entire fourth and fifth floors, totalling 51,000 sq ft, with a view to moving in over the summer. The space will be the global headquarters of Telefónica's new digital division which has been formed to lead the company's growth in the digital world. Approximately 400 employees will be based in the office, which will also be a showcase for technology innovation for customers and partners. In January Halfords Media will start fitting out the entire third floor, which totals 230,000 sq ft. Both companies have agreed 15 year leases for undisclosed rents.

In November, Generation Investment Management, the investment management firm dedicated to long term, sustainable investing, also signed a 15 year lease for AirW1's 21,300 sq ft top floor.

AirW1 is the main office element of the 270,000 sq ft Quadrant 3 development and comprises over 180,000 sq ft of prime Grade A office space in the heart of the West End. It is the single largest new office building to come to market in the area until at least 2013 and the central West End's only office development scheme over 60,000 sq ft to complete before quarter three 2012.

"London is undoubtedly at the forefront of the current digital revolution and was a natural choice for us to establish our new headquarters in," said Matthew Key, chairman & CEO of Telefónica Digital. "London is arguably the biggest hub for technology start ups outside of Silicon Valley and a global centre for the media and advertising industries. It attracts the best talent and, for an international business such as ours, acts as a unique bridge between Europe and the Americas. Our decision to invest in having a significant presence in central London's Regent Street is clear evidence of our determination to succeed in the digital space."

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Posted by Sara