Gaw Capital secures deal of the century

Gaw Capital UK has secured the biggest educational letting in London’s Docklands this century. The owner of the nine-acre Harbour Exchange development has signed a 15-year lease with the University of Sunderland, which will see it increase its footprint in the building tenfold. The university will take 95,628 sq ft in 4 and 5 HX. It currently occupies just 9,559 sq ft. The deal is set to be the largest educational letting in the Docklands this century and the largest letting in Docklands – excluding the Canary Wharf Estate – across all sectors in more than 10 years. Early last year the University of Sunderland announced that it was investing some £250m in its campuses in Sunderland and London to enable it to take advantage of growing student numbers. The university currently has around 27,500 students based at campuses on the north-east coast, London and Hong Kong. Gaw Capital UK director Kevin Koo said: “The University of Sunderland taking more space at HX further vindicates the quality of Harbour Exchange, both as an office and educational campus. “It also confirms the strong appetite for grade-A office space in a fantastic location with excellent transport links, at rents far lower than those found in the West End, City, and other fringe locations.” Josh Lamb, director at Savills City agency team, said: “This was a unique opportunity to secure nine acres of private educational space in London, which provides such a high-quality environment to promote work and study. “This letting is testament to the continuing appeal of the mature Docklands sub-market.” According to data in EG Radius, office rents at HX are around £27-£35 per sq ft. Check out more lettings in Docklands >> Photo courtesy of Savills