Maximising the potential of the site
Wells & More saw the redevelopment of 74,000 sq ft of space, spread across three functionally obsolete adjoining buildings, into 123,200 sq ft of new space (an increase of just over 66%).
We achieved this increase through the comprehensive redevelopment of the main building and its underused car park, enabling us to create a new 93,000 sq ft Grade A office. The other two buildings were used to fulfil our private and affordable housing obligations.
By keeping the office and residential uses in separate buildings we were able to ensure an efficient design for each element to meet the differing occupiers needs. The redevelopment has succeeded in attracting a range of occupiers to the area.
Meeting our occupiers’ aspirations
We think about the potential occupiers of our buildings well before we start construction. After all, they are key to our success and we work hard to understand their needs and aspirations throughout the building design and planning application process.
At Wells & More, this allowed us to produce a high quality building in tune with a diverse range of potential occupiers’ needs. Combined with our detailed knowledge of the West End leasing market, this has enabled us to attract major occupiers including New Look, Brown Foreman and Lionsgate Films.
Pragmatic leasing in a poor market
Practical completion of Wells & More occurred in January 2009 in the midst of the financial crisis, just as rental values were falling. There was rapid erosion of occupier confidence in London's leasing markets and demand for new office space was at historically low levels.
Against this difficult background we worked hard with our external agents taking a pragmatic approach to deal structures to attract top quality occupiers, securing New Look for almost half of the building in the week it was completed.
Marc Wilder Leasing Director
"The quality of the design at Wells & More means the building remains attractive to forward thinking companies. As Fitzrovia continues to attract the world’s leading companies including Estee Lauder and Facebook, the influence of this vibrant area continues to grow."
- Oxford Circus 5 minutes' walk
- Tottenham Court Road 10 minutes' walk
Wells & More
|Third Floor - Ready to Fit / Fitted / Fully Managed||Office||16,841|
56 Wells Street