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Vengrove and WeWork Capital Advisors have completed the £148 million sale of 120 Moorgate to Sun Venture.

The development which included a new façade, has c. 113,000 sq ft of Grade A office accommodation, retail and leisure space. The offices are let to WeWork whilst Barclays occupies a flagship retail banking unit and the leisure unit in let to premium gym operator, Third Space.

EdCity, the innovative mixed-use scheme in White City, has now commenced works on site.

The scheme will deliver a selection of educational facilities for all ages, new office accommodation and 132 affordable homes. The development will be completed in two phases over the next 4 years.

Vengrove has completed the redevelopment of 6 Middle Street in the City of London to provide contemporary new office space that incorporates sustainable and inclusive design at its core.

The development provides Trust for London with a new high value asset, which will provide financial support in their work to improve some of London’s most pressing social issues.

120 Moorgate now offers 79,500 sq ft of Grade A office accommodation which is being occupied by WeWork in its entirety. WeWork has secured The Merck Group as an anchor enterprise tenant on half of the space.

In addition, the ground and lower ground will be occupied by the premium gym operator, Third Space.

Vengrove has secured planning permission for a 115,000 sq ft office scheme, with an ancillary food and beverage offer, at Film House in Soho.

Enabling works will begin in October 2020 and practical completion is set for May 2022.

Vengrove has completed the disposal of a 45,000 sq ft office scheme on Wharf Road, N1. The sale of the long leasehold interest follows the sale of seven self-contained office suites to a variety of owner occupiers. Purchasers included those from the charity, construction, media and tech sectors.

The combined sales value of the office units and long leasehold interest generated proceeds in excess of £24m.

Vengrove has achieved practical completion of the landlord’s works package at 51 Eastcheap on behalf of WeWork Property Advisors.

The scheme comprised a comprehensive refurbishment including a strip back to concrete shell, installation of new M&E services and the infill of circa 50% of the atrium. 51 Eastcheap now offers 89,500 sq ft of Grade A office accommodation, the entirety of which shall be occupied by WeWork, whom are currently on site undertaking their CAT B works.  The new WeWork facility shall be open for occupation during the first week of June 2019.

Vengrove has completed the sale of the last of their holdings at Newbury Business Park. Astor and Benyon House were sold to Telereal Trillium for £5.35m. The tenants included Huawei, Digitas LBI and Viavi Solutions.

The sale follows the disposal of 3 & 4 The Sector & Emerald House earlier in 2018. 3 & 4 The Sector was sold to West Berkshire Council for £17.8m after Vengrove had comprehensively refurbished and repositioned both buildings and secured pre-lets to Cirrus Logic and Edwards Lifesciences. Emerald House was acquired by Lipman Properties following the departure of Vodafone from the building.

Vengrove has partnered with Ark and Hammersmith & Fulham Council on EdCity, the redevelopment of Ark Swift Primary Academy and Harmony Neighbourhood Nursery to create an ambitious new mixed-use development with a focus on education.

EdCity will consist of a redeveloped two-form entry Ark Swift Primary Academy, a 75-place nursery for Harmony Neighbourhood Nursery, a Youth Zone centre and an expanded Adult Education and Community Learning Centre. Additionally, 97,000 sq ft of affordable office accommodation will be created, to be set aside for education and social innovation charities. The goal is to create an education hub in West London, where like-minded and mission-aligned organisations can collaborate to enact positive change. The hub will also include 132 residential units, of which 50% will be affordable housing.

WeWork Property Advisors and Vengrove has secured planning permission for the refurbishment and re-development of two offices in the City of London: 51 Eastcheap and 120 Moorgate. Both properties when complete will be majority occupied by WeWork Companies Inc.

51 Eastcheap will consist of an 86,000 sq ft office building arranged over 10 floors with a small ground floor retail provision. 120 Moorgate will total 105,000 sq ft of office accommodation over nine floors. It will benefit from an extensive ground floor retail offering, including the existing flagship Barclays branch. The façade will be modernised, with WeWork expected to occupy 90% of the office space upon completion in Q4 2019.