WELPUT leases three floors at Twenty St James’s Street
27 March 2019
WELPUT, the specialist Central London real estate fund advised by Grafton Advisors, has let three floors to two tenants at its newly developed Twenty St James’s Street scheme.
ExodusPoint Capital Management will occupy 13,136 sq ft across the 4th and 5th floors. ExodusPoint is a newly established New York hedge fund which raised a debut $8bn, the most money ever for a hedge fund launch and backed by a number of significant global investors. Bond Woodhouse advised ExodusPoint.
In addition, EIG Global Energy Partners, established in 1982 and one of the leading providers of institutional capital to the global energy industry, has taken 5,259 sq ft on the 7th floor on a new 10-year lease. Cushman & Wakefield advised EIG.
Twenty St James’s Street was acquired by Grafton Advisors on behalf of WELPUT in 2015 and has been comprehensively redeveloped behind the retained façade, to provide 53,296 sq ft of high quality office space over ten floors alongside a statement double height reception space. It was launched to the market last year with typical floorplates of c.6,500 sq ft. Quoting rents in the building range from £105 per sq ft to £135 per sq ft for the upper floors.
The lower ground and ground floor suite (pictured) of 6,912 sq ft was released to the market this week offering a potential occupier with an affordable option in St James’s and the ability to create a statement self-contained office across the characterful double height space.
Ker Gilchrist, Grafton Advisors, said “We are delighted to welcome ExodusPoint and EIG to the WELPUT portfolio and with good interest in other floors, we are looking forward to adding names to the tenant line up shortly. As a Fund, WELPUT continues to focus on ensuring that its schemes deliver the best space to meet occupier needs in specific London sub-markets. By spending time on the product definition in Twenty St James’s Street, we have seen re-assuring levels of occupier interest despite the uncertain political backdrop.”
GreenOak Real Estate is a leading global real estate investment management firm with approximately US$11 billion of AUM, across discretionary closed-end funds for both equity and debt strategies in the US, Europe and Asia. Founded in 2010, GreenOak has acquired approximately 203 assets representing 40 million square feet and US$14.3 billion of real estate value within its target markets. GreenOak has offices in New York, Los Angeles, London, Madrid, Milan, Luxembourg, Tokyo, Seoul and Mumbai, with over 100 professionals in dedicated regional teams having deep, local knowledge, experience and extensive networks in each market.
Grafton is the property adviser to the West End of London Property Unit Trust (WELPUT), which was established in 2001 in partnership with Schroder Real Estate. Grafton continued to operate as an independent Central London specialist asset, property and development management business with a focus on providing best-in-class service to WELPUT.
BNP Paribas Real Estate, Cushman & Wakefield and Edward Charles & Partners are the letting agents on Twenty St James’s Street.