Howden agrees significant long-term lease regear at One Creechurch Place in a deal led by FORM Real Estate

FORM Real Estate, acting on behalf of landlord, the Healthcare of Ontario Pension Plan (HOOPP) has agreed a significant lease regear at One Creechurch Place with Howden, underscoring the global insurance intermediary group’s long-term commitment to the City of London for its global headquarters.

 

Howden will expand its existing footprint from 197,000sq ft to 230,000sq ft with a commitment to occupy the entire building - comprising 275,000sq ft of Grade A office space over 17 floors – as remaining space becomes available.

 

Working in partnership with Howden, FORM Real Estate will oversee the refurbishment of the ground floor entrance and reception area and on-floor amenities, alongside delivering a comprehensive energy optimisation plan

 

Nick Moldon (Managing Director) of FORM Real Estate comments, “Delivering value in a challenging market requires an absolute focus on collaboration with a true partnership approach to secure the right outcomes. As a result of this alignment, we have been able to provide a highly valued occupier with continuity and the opportunity to meet their own growth ambitions, while securing long-term value with stabilised income and future-proofing the asset through refurbishment and energy optimisation.”

 

Dee Liyanwela (Group Head of Corporate Services) at Howden comments, “Our strategy has always been centred around growth and investing in our talent, and the City of London is where we see our future. This deal enables continuity for our headquarters in this prestigious location, alongside the opportunity to expand further and in time create our own campus environment that can fuel our growth, and become a hub for our talented, global team.”

 

FORM Real Estate was appointed by HOOPP in 2023 to deliver the lease regear and asset management strategy and coordinate the roll out of capital projects and sustainability enhancements to the building.

 

Knight Frank acted on behalf of HOOPP and Savills acted on behalf of Howden in the deal.