news

8/4/19

Vengrove Achieve Practical Completion at 51 Eastcheap, EC3

Vengrove have achieved practical completion of the Landlord’s works package at 51 Eastcheap on behalf of WeWork Property Advisors.

The scheme comprised a comprehensive refurbishment including a strip back to concrete shell, installation of new M&E services and the infill of circa 50% of the atrium. 51 Eastcheap now offers 89,500 sq ft of Grade A office accommodation, the entirety of which shall be occupied by WeWork, whom are currently on site undertaking their CAT B works.  The new WeWork facility shall be open for occupation during the first week of June 2019.

21/9/18

Vengrove Divests in Newbury

Vengrove has completed the sale of the last of their holdings at Newbury Business Park. Astor and Benyon House were sold to Telereal Trillium for £5.35m. The tenants included Huawei, Digitas LBI and Viavi Solutions.

The sale follows the disposal of 3 & 4 The Sector & Emerald House earlier in 2018. 3 & 4 The Sector was sold to West Berkshire Council for £17.8m after Vengrove had comprehensively refurbished and repositioned both buildings and secured pre-lets to Cirrus Logic and Edwards Lifesciences. Emerald House was acquired by Lipman Properties following the departure of Vodafone from the building.

9/7/18

Vengrove Secure Planning for City Offices

WeWork Property Advisors and Vengrove has secured planning permission for the refurbishment and re-development of two offices in the City of London: 51 Eastcheap and 120 Moorgate. Both properties, when complete will be majority occupied by WeWork Companies Inc.

51 Eastcheap will consist of an 86,000 sq ft office building arranged over 10 floors with a small ground floor retail provision.  120 Moorgate will total 105,000 sq. ft. of office accommodation over nine floors. It will benefit from an extensive ground floor retail offering, including the existing flagship Barclays branch. The façade will be modernized, with WeWork expected to occupy 90% of the office space upon completion in Q4 2019.

22/6/18

Vengrove Acquires Newcastle’s Generator Studios

Vengrove have bought Generator Studios in Newcastle from Metnor Group for £6.45m, reflecting a net initial yield of 8.75%. The property has 11 tenants including Hedgehog Lab, Gardiner Richardson, Black and White Engineering and Atlas Cloud.

Vengrove is working on progressive plans to enhance and modernise the property and its services particularly in relation to health and wellbeing. Ideas being discussed include new bike racks, the creation of a small gym or yoga studio, more inspiring communal areas and a café that provides better quality and healthier food and drink options.