Montagu Evans makes new home in City
Nuveen has secured a clutch of new tenants at 70 St Mary Axe, EC3, including planning and development consultancy firm Montagu Evans.
The firm has decided to relocate from its Mayfair base at 5 Bolton Street, W1, to the property, nicknamed the Can of Ham, taking a 15-year lease over 25,000 sq ft.
It will house its London team on the 12th floor, while the partial space it is taking on the 11th floor will be used for its clients. It has appointed BDG to design its new home.
Nuveen has secured a clutch of new tenants at 70 St Mary Axe, EC3, including planning and development consultancy firm Montagu Evans.
The firm has decided to relocate from its Mayfair base at 5 Bolton Street, W1, to the property, nicknamed the Can of Ham, taking a 15-year lease over 25,000 sq ft.
It will house its London team on the 12th floor, while the partial space it is taking on the 11th floor will be used for its clients. It has appointed BDG to design its new home.
Montagu Evans managing partner Rob Bower said: “London’s centre is shifting further east and we intend to stay at its heart, closer to many of our clients and easier for more of our team to access. The amenities on offer in the City are now unrecognisable from 10 or even five years ago.
“Cross-service and sector-based working is becoming more important to our clients, as they tackle greater challenges around transforming assets and adding value – both financial and social. With everyone working closer together in one space we will be much better set up for our specialist teams to collaborate, supported by investment in new systems, tech and with the flexibility to grow in line with our core strategy.”
The firm will be joining two other new tenants at the 311,000 sq ft building. It is understood that Travelfusion, an online travel content aggregator, and real-time technology firm Adaptive have each taken a floor in the building, both on long leases.
It is thought all three are paying on average in the high £70s per sq ft.
Peter Neal, director of offices, Europe at Nuveen Real Estate, said: “The transaction demonstrates the building’s appeal to occupiers from right across central London – and in this case a firm looking for a completely new approach to its workspace.”
Montagu Evans, which also has offices in Manchester, Edinburgh and Glasgow, will occupy the space from December 2020.
The other tenants at 70 St Mary Axe are CBRE’s Hana which picked the 311,000 sq ft property as it debut location in the UK, and law firm Sidley Austin, which signed up earlier this year to occupy 100,000 sq ft on a rent in the high £60s.
BH2 and JLL are the leasing agents on the building for Nuveen.
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