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East India Dock

Trilogy Real Estate and LaSalle Investment Management Announce Lettings at East London Creative Campus Republic

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Trilogy Real Estate and LaSalle Investment Management Announce Lettings at East London Creative Campus Republic

Threepipe, The Gentlemen Baristas and Horticulture on board as the scheme’s first phase nears completion

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Real estate investment and development business Trilogy Real Estate and LaSalle Investment Management, the leading real estate investment manager, today announced four lettings at Republic, the next-gen workplace campus in East India Dock aimed at companies priced out of Central London and Shoreditch.

Threepipe, an independent and award-winning full-service digital agency which counts Nike, The England & Wales Cricket Board and Sweaty Betty among its clients, has shifted its 80 plus staff from Covent Garden to the campus, taking 6,000 sq ft of office space.

Horticulture, a restaurant launch led by chef Marc-Antoine Bodin, will create an independent food offer to coincide with the full launch of the project this spring. Alongside the 2,900 sq ft restaurant, Horticulture will source food locally, including from an on-site garden, and feature a flower shop alongside retro hi-fi systems and all-day DJs.

The Gentlemen Baristas, the coffee start-up near Borough Market, favoured by bloggers and known for its barista school, has announced it will open its fourth café at Republic with a deal for 3,100 sq ft, offering top-quality coffee from its on-site roastery. Its other outposts are at The Building Centre in Bloomsbury and The School House, based at Jerwood Space.

 Hadley, an East London accountancy firm, has also taken 1,000 sq ft of space in Anchorage House.

Robert Wolstenholme, Managing Director of Trilogy Real Estate, said:

“Republic is already attracting young businesses priced out of central London and Shoreditch, and with this series of lettings we are setting the tone for our new creative neighbourhood – a place for our tenants to work, collaborate, innovate and play. Studio RHE’s reimagining of the building and The Trampery’s community management will be catalysts when the building launches fully in May.”

Jim Hawker co-founder and director of Threepipe said:

“Ridiculous rents and rates of central London have forced us and many other creative agencies to look elsewhere to settle and run our businesses. Republic is designed for creative businesses, is competitive in rates and will be a place where our business can expand and grow. We have fast access into the West End and have more flexibility to spend our hard earned money on things other than rent and rates by investing more money into staff training, developing our own IP and attracting talent and clients.”

Republic is already home to The Trampery co-working space and Deliveroo’s East London recruitment hub. Average quoting rents for Republic are in the mid-£30s a sq ft, depending on floor and location in the building.

Republic aims to stem the tide of young companies leaving London by creating 600,000 sq ft of truly affordable workplace that meets contemporary professional and personal needs, with a focus on the core values of creativity, connectivity and affordability.

The first phase of the masterplan include is the transformation of Anchorage House in to 225,000 sq ft of substantially refurbished space with a co-working space. The plans by award-winning architect Studio RHE completely transform the existing first-generation Docklands office development to create a dynamic environment that embodies contemporary work practice.

Extensive landscaping is underway, replacing the streets of the original 1990s development, using planting, open water and trees to create a series of external spaces defined by timber porticos and colonnades.

Updates can be found at https://republic.london/ and @RepublicLDN.

Trilogy Real Estate and investor LaSalle Investment Management have retained Allsop and CBRE as office agents and CF Commercial and CBRE as retail agents for the scheme.

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Trilogy & LaSalle acquire East India Dock in London for £170 million

Trilogy & LaSalle acquire East India Dock in London for £170 million

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has created a partnership with Trilogy Property Advisers (“Trilogy”) to acquire East India Dock in London, United Kingdom, from Criterion for £170 million through a Jersey Property Unit Trust (“JPUT”). The JPUT will be managed by LaSalle and Trilogy. 

Built in 1993, East India Dock is a 593,233 square feet office campus with retail and leisure amenities and 471 car parking spaces that is situated on a prominent 6.4-acre island site in the London Docklands. It is comprised of four office buildings with a maximum height of nine storeys that vary in size from 64,513 to 218,306 square feet. The floorplates across each building range from 13,000 to 28,000 square feet and benefit from natural light and attractive views across London.

Whilst existing plans for the site included a comprehensive redevelopment for residential use, LaSalle and Trilogy will refurbish and reposition East India Dock as a viable alternative for occupiers priced out of traditional office locations. High quality office space will be provided at competitive rental values from £30 per square foot with best in class amenities to support the new workforce. LaSalle and Trilogy have not ruled out the inclusion of residential within the site’s overall mix.

East India Dock is well-connected for public transport, which supports the new vision for the site. It is a three-minute walk via a connecting footbridge to East India DLR station, which offers connections to the City in under 15 minutes and the West End in around 20 minutes. Cycle Superhighway 3, which runs from Barking to Tower Gateway, boarders the site and it is just an eight minute car journey to London City Airport. East India Dock will also benefit from the introduction of Crossrail to the Docklands in 2018, which will create a more mobile workforce across London. 

Chris Lewis, Head of Transaction Support, LaSalle Investment Management, said: “East India Dock is an exceptional opportunity to create a vibrant new business quarter in a well-connected part of London. It is in the heart of an area undergoing a significant transformation with new residential developments and the impending introduction of Crossrail drawing people to the neighbourhood. We want to provide a viable alternative for occupiers priced out of more traditional business locations and previously affordable hubs, such as Shoreditch. We are pleased to be working with the experienced team at Trilogy to deliver this vision.”

Robert Wolstenholme, Managing Director, Trilogy Property Advisers, said: "This property provides a great platform for Trilogy to apply the experience gained with creative office developments in Soho, Shoreditch and Whitechapel to deliver a new East London quarter for creative talent. The eastward migration of the creative and digital sectors, like the English National Ballet's move to London City Island or the Here East scheme at the Olympic park, is reinventing areas like Stratford and Canning Town. We're talking to some top creative, cultural and tech occupiers, who would be catalysts for the emergence of a new hub for next-generation talent at East India Dock."

East India Dock is currently multi-let to a variety of office tenants with a current passing rent of around £20 per square foot and a weighted average unexpired lease term of under three years.

LaSalle was advised by Allsop and Hall Kemp; Criterion by Savills and Michael Elliot.