Longmartin's £4.5 million investment in The Yards offices, Covent Garden, pays off
Longmartin Properties Ltd, a joint venture between Shaftesbury and the Mercers’ Company, has undertaken a £4.5 million investment in a circa 20,000 sq. ft of high-spec office space within the heart of The Yards, Covent Garden, across two locations, 14 Upper St Martin’s Lane and 10 Slingsby Place.
The development on 14 Upper St Martin’s Lane spans across three high-quality floors and boasts a premium workspace following significant refurbishment by renowned architects, Hale Brown. The 11,610 sq. ft office space offers a reception and concierge and a floor of workstations, meeting rooms as well as functionable amenities. Overlooking the dining hub within The Yards, the offices are flooded with natural light and feature accents of green within its tonal colour palate, to mirror the new planting scheme in the outdoor courtyard.
Occupying a prime position only a stone’s throw away from Covent Garden station, 10 Slingsby Place similarly delivers an exceptional office space across two floors. The 6,960 sq ft space, also transformed by Hale Brown, includes a stylish reception and concierge, and has one final floor to lease. The new design incorporates exposed, feature steelwork to maximises the ceiling height, excellent natural light and features a second-floor terrace.
Both offices feature shower facilities and cycle storage catering for the new London commuter and boast extensive sustainability credentials, with FSC, environmentally conscious timber used throughout, 99-100% of waste diverted from landfill, as well as several retained and adapted elements including doors, staircases, balustrades, and flooring. Contractor, Portview, managed the initial sustainability procurement plan and will ensure the monthly performance of the buildings in accordance with Longmartin Properties‘ specific requirements.
On behalf of Longmartin’s Properties Ltd, Simon Taylor, Property Director at the Mercers’ Company commented on the investment: “We have seen an influx of new and returning office workers to the West End, which is very positive for The Yards. We have worked hard to curate a high-quality F&B offer within the community, as well as deliver a variety of retail options, so it’s encouraging to see hybrid workers experience these elements and ultimately bring a new dynamic to the area. This substantial investment and emphasis on sustainable office space reflects our priority in delivering a mixed-use location within the heart of Covent Garden, which holds community at the helm, and provides something for all types of consumers, whether that be office workers to local residents and tourists alike.”
This investment reflects the emergence of workers returning to the office, coinciding with research by CACI affirming that hybrid workers are much more engaged consumers, with their average spend per visit to a destination being up by 15%*.
This news follows the recent signing of Gura Gura, the brand-new Asian bar and kitchen concept, which is set to make its UK debut in The Yards neighbourhood later this year.
CBRE is the asset manager on behalf of Longmartin Properties and Colliers and Stage RE acted for The Yards.
*Re-imagining the UK: The Ideal Office – Opinion piece from CACI’s Director, Alex McCulloch, published in CoStar, February 22