CO—RE and Mitsubishi Estate sign up first letting at former ITV Studios on Southbank

CO—RE has signed a deal with Annapurna that will see the recruitment agency move into The London Studios on Southbank.

Annapurna is taking around 6,000 sq ft on level nine of the landmark 25-storey office building, which forms part of the historic ITV London Television Centre that fronts onto the River Thames and the Thames River Walk on the South Bank between Waterloo Bridge and Blackfriars Bridge. CO—RE has secured the tenant until at least June 2021 with rolling break clauses thereafter, to facilitate the future redevelopment of the site. The remaining offices are available at a rent of £20 per sq.ft.p.a. via the letting agents, Union Street Partners.

The deal is CO—RE and Mitsubishi Estate’s first new letting at the 2.5-acre site since the outbreak of COVID-19. During the peak of the pandemic, the extensive car parking facilities on the site were donated to local Guy’s and St Thomas’ Hospital for their staff to use for free to help them deal with the crisis. The building was one of a number of prominent London landmarks that was lit up with thank you messages to thank the NHS on Thursday nights at the height of the pandemic.

Mitsubishi Estate and CO—RE secured the highly sought-after central London site for £145.6m in November 2019. Whilst plans are still being finalised, The London Studios will likely be transformed into a modern, exceptionally well-designed scheme that centres around a strong commercial office offering. The redevelopment will contribute to both the local community and the cultural focus of the area.

Bradley Baker, Director of CO—RE, said: “This letting to Annapurna is a very positive start to our short-term flexible leasing initiative and is illustrative of the attraction of the site’s peerless riverside location.”

Yuichiro Shioda, Managing Director of Mitsubishi Estate London, said: “Although we have an ambitious long-term vision for the scheme, our management of the building in the near-term is no less important. As such, this recent letting is a significant step and a positive start to our relationship with CO—RE and our wider development plans.”