On behalf of CIT, Colliers International and BNP Paribas Real Estate have secured Stephens Europe Limited and Schillings International LLP as new tenants at 12 Arthur Street in the City of London. The property is currently undergoing a comprehensive refurbishment to create a further 71,000 sq ft of Grade A specification office space and the deals follow the initial refurbishment and lettings of the second and fifth floors in 2019.
Stephens Europe, the investment bank, has agreed a new lease of the 8,557 sq ft tenth floor of 12 Arthur Street and will relocate from Cornhill. Legal firm Schillings LLP has agreed a new lease at the property, taking the 8,661 sq ft ninth floor.
Designed by Morrow + Lorraine and set to complete in February, CIT’s refurbishment of 12 Arthur Street will include the creation of new best in class bicycle, shower and changing facilities alongside high quality Grade A office space. The most recent deals follow previous successful lettings to Broadridge Financial Solutions and Mindtree in the last seven months and the refurbishment of the reception area and the second and fifth floors.
Toby Croft of CIT commented: “We are delighted to attract such high calibre tenants to 12 Arthur Street and to receive such positive feedback on the quality of the refurbishment we are undertaking to the building.”
James Walker, director of the City Agency team at Colliers International, added: “The refurbishment at 12 Arthur Street will provide much needed Grade A space in the constrained City market, where vacancy levels currently stand at 4.9%, the lowest level for three years.”
Philip McKenna of BNP Paribas Real Estate said: “We have been encouraged by the levels of pre-let interest in the building during the refurbishment works and the strong levels of new interest we are receiving in the remaining floors are testament to the quality of space CIT are providing.”
Cushman & Wakefield advised Stephens Europe and HBC Real Estate represented Schillings LLP.