The 68,000-Square-Foot Office Is Part of Larger Southbank Complex with Two Residential Towers
JTRE London, the UK branch of European developer JTRE, has fully let its One Triptych Place office on London’s Southbank after three companies took space.
An undisclosed pharmaceuticals company, understood to be one of the largest in the world, has put pen to paper to occupy five floors, or 30,000 square feet, at the Bankside site. It is joined by television communications company Digital UK, which has taken 8,000 square feet, and US architectural firm Corgan. The latter has agreed a let spanning 4,800 square feet.
The deals mean that the 68,000 square feet of office space at One Triptych Place is fully let after launching in March 2022. The other tenants are publishing house, the Quarto Group, which signed a 12-year lease for all of the 9,000-square-foot second floor in August 2022. Indoor bouldering company the Font is also housed in the building, as well as independent coffee company 92 Degrees, in the reception area.
JTRE London joins its tenants in a 4,000-square-foot, first floor office as it opens a new UK head office.
The Triptych Bankside development is a short walk from London Bridge station and is next to Tate Modern art gallery, Shakespeare’s Globe theatre, Borough Market and the Millennium Bridge. Designed by Squire & Partners, One Triptych Place forms part of a £450 million mixed-use development.
The scheme comprises three towers, with 169 luxury apartments in two blocks, offices in a third, plus 14,800 square feet of retail and 14,000 square feet of cultural space.
Developed to meet a BREEAM rating of Excellent, the office building at Triptych Bankside comprises nine open plan floors, with full height glazing and terraces on the top three floors. Tenants will have access to concierge services, a café, cycle storage, showers and changing rooms.
At ground level there will be an exercise studio, boutique retailers and a cultural space, alongside landscaped gardens and public realm.
Nigel Fleming, sales and marketing director of JTRE London, said in a statement: “The signing of one of the biggest global pharmaceutical companies is testament to the design, location and quality of development at Triptych Bankside. From exceptional prime office space that meets the rigorous demands of today’s occupiers, to exciting retail and leisure offerings, we are delivering a world-class mixed-use offering that will create an enduring legacy on the vibrant Southbank. The Triptych Bankside estate is one of London’s successful projects in recent years, and we are delighted to now also call it home for our new JTRE London head office.”
JTRE secured a £177 million construction loan with ICG Real Estate for the flagship development in June 2020, marking the developer’s first entrance to the UK market. The site is the former National Grid office and was bought from Delancey’s DV4 client fund in 2018 with planning consent for 163 apartments and 87,081 square feet of offices, 9,892 square feet of shops and a 16,609-square-foot cultural facility space.
BH2 and Savills acted on the commercial deals with Setfords London as lawyers. Retail leasing agents are Savills and BNP PRE.
Jack Beeby of BH2 said: “The quality and range of the amenity at Triptych Bankside was absolutely key in attracting occupiers to the building, providing a platform for them to recruit and retain the best talent for their business. The diversity of the occupiers, pharmaceutical, tech, and publishing, highlights the continued depth in demand for best-in-class assets.”
Head of the West End agency team at Savills, Hunter Booth, said: “The leasing velocity of Triptych Bankside shows that best-in-class office spaces in well-connected locations are outperforming the market. The current line-up of occupiers in the building is testament that it is getting the mix of ingredients right: Triptych Bankside gives its tenants everything they need on a day-to-day basis, as well as easy access to the wider amenity of London’s vibrant Southbank.”
JTRE London is a real estate developer focused on significant development opportunities in prime central London. With two projects under construction in London, the company is looking to secure additional sites, including mixed-use, office and residential-led schemes.
Appleby Blue, Southwark Park Road, JTRE London’s second scheme under construction, is going to be the location for a new United St Saviour’s Charity development consisting of 57 almshouses and community space.
JTRE was founded in 1996 and has over 300 employees with offices in Slovakia, Czech Republic and the UK, and experience with projects in nine countries.