Blackstone signs global advertising agency to Devonshire Square

Blackstone has signed global advertising agency Droga5 to the Spice Building in Devonshire Square, EC2. The New York-based agency has agreed to prelet 11,300 sq ft on the top floor of the 130,000 sq ft building. Devonshire Square, located between Liverpool Street station and Spitalfields, is undergoing a major transformation into a piazza style courtyard framed by warehouse buildings, bars, restaurants and shops. A cluster of 18th Century, Grade II listed East India Company warehouses will provide 630,000 sq ft of offices aimed at the “discerning modern occupier”. Blackstone recently announced the 30,000 sq ft prelet of the Pepper Store to Equinix, a global interconnection and data centre company, while Scottish restaurant Mac & Wild have confirmed the opening of their second permanent restaurant in London at Devonshire Square. Bill Scott, chief executive of Droga5 London, said: “We are entering a really exciting period in the growth of Droga5 London and the Spice Building is the ideal space for fuelling our passion for doing thought-provoking and memorable work.” Ed Hodgson, director for Blackstone Property Management, said: “Securing a prelet more than six months ahead of completion of the Spice Building is testimony to the buzz being generated around Devonshire Square, and its growing appeal, particularly to occupiers in the creative industries.” Blackstone was advised by Knight Frank and GM Real Estate;  Droga5 was represented by Kushner. To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette