Endurance Land has secured a pre-lease agreement for The Bailey, an office building located in 16 Old Bailey, Mid Town, London, adjacent to City Thames Link station and a short distance away from St Paul’s and Chancery Lane tube stations.
IPG Mediabrands, who are part of The Interpublic Group of Companies, will lease 93,000 sq ft over Lower Ground and 2nd to 8th floors, whilst Knotel will take the remaining 21,000 sq ft on the ground and first floors.
The 115,000 sq ft building, which is owned by the Nan Fung Group and developed by Endurance Land following the formation of their strategic partnership in late 2018, received planning permission for an extensive refurbishment and extension scheme in 2018 and is due for completion in Quarter 1 2021.
The completed scheme designed by ORMS Architects will benefit from an impressive double height reception and terraces on the 5th to 8th floors and is on target to receive BREEAM Excellent and Wired Score Platinum accreditations.
Jonathan Fletcher CEO and founder of Endurance Land commented, ‘We are delighted to have secured these lettings and look forward to welcoming both tenants to the completed building in 2021. With IPG operating in 130 countries we see this investment in London as a reflection of the diverse and cutting edge talent pool that best in class tenants require.”
Henry MacInnes, Director at Endurance Land, added, “These lettings are a testament to the quality of the development’s design, its connectivity and its sustainable credentials.”
BH2 and Mischon De Reya acted for Nan Fung Group / Endurance Land, whilst JLL represented IPG Mediabrands.