Arts college extends footprint at The Amp
LaSalle Investment Management and Trilogy Real Estate have leased an additional 19,000 sq ft at The Amp in east London to the London College of Contemporary Arts.
The college already has almost 38,000 sq ft at the 135,000 sq ft building at 41-71 Commercial Road in Aldgate, E1, paying around £56 per sq ft.
The new deal brings LCCA’s total footprint in the building to 57,000 sq ft and means that The Amp is now close to fully let.
LaSalle Investment Management and Trilogy Real Estate have leased an additional 19,000 sq ft at The Amp in east London to the London College of Contemporary Arts.
The college already has almost 38,000 sq ft at the 135,000 sq ft building at 41-71 Commercial Road in Aldgate, E1, paying around £56 per sq ft.
The new deal brings LCCA’s total footprint in the building to 57,000 sq ft and means that The Amp is now close to fully let.
Other occupiers in the building include De Montfort University, which occupies 18,000 sq ft, Nottingham Trent’s Confetti Institute of Creative Technologies and Access Creative College, both of which signed prelets totalling 55,000 sq ft.
Chris Lewis, managing director of LaSalle Value-Add Investments, said: “The expansion of LCCA within our exciting mixture of universities at The Amp, taking the campus to nearly full occupation within just over two years, is a real signal of the strength of the local offer and the demand for education-led innovation campuses in leading European gateway cities – especially in City fringe locations like Aldgate.
“Helping to bridge the gap between infrastructure and real estate, The Amp remains an important part of LaSalle’s broader European value-add strategy. Projects like the Amp, which focus on new economy sectors such as mixed education campuses, urban accommodation, student housing, private medical facilities, and distribution and data centres, are only growing in importance and we are very proud to have partnered on it with Trilogy.”
Robert Wolstenholme, founder and chief executive of Trilogy Real Estate, added: “At Trilogy our mission is to deliver the next generation of leading innovation campuses – campuses that mix exceptional education assets with high-quality shared amenities for business and the community.
“The fact that we have been able to turn around the refurbishment works and secure a nearly fully let building within just over two years from site acquisition is a testament to the level of demand for this type of campus in what has otherwise been a challenging market. It also reflects the huge amount of work that has gone into delivering truly bespoke and end-user-oriented facilities for our occupiers, their students, and the local community.”
Allsop advised on the deal.
