The University Partnerships Programme (UPP) is the latest occupier to join the tenant mix at CIT’s recently refurbished 12 Arthur Street in the City of London.
Acting on behalf of CIT, Colliers International and BNP Paribas Real Estate have agreed a new 10-year lease with a fifth year tenant-only break option, for UPP to occupy the first floor of 12 Arthur Street, which totals 8,759 sq ft.
Advised by Daniel Watney LLP throughout the transaction, UPP is the UK’s leading provider of on-campus residential and academic accommodation infrastructure, with over 36,000 rooms in operation or under construction through long-term, bespoke partnerships with 15 world-leading universities.
This latest deal follows on from an impressive spate of new tenants joining the building, including: NedBank, Broadridge Financial Solutions, Mindtree, Schillings LLP and Stephens Europe. In addition to the first floor letting, the eighth floor is also now under offer.
Only three floors now remain available, comprising 27,750 sq ft across the upper ground, third and fourth floors.
Designed by Morrow + Lorraine, CIT’s refurbishment of 12 Arthur Street includes the creation of a new best in class bicycle, shower and changing facilities alongside high quality contemporary Grade A office space. The building is a short walk from many local amenities such as the Bloomberg arcade, The Ned and Borough Market and local transport links including Bank, Monument, Cannon Street and London Bridge stations.
James Walker, Head of City Agency and Occupier Advisory at Colliers International, said: “Despite the challenges we face in the current market, we are finding that demand is still out there for high-quality office space in the right locations.”
Philip McKenna, Senior Director at BNP Paribas Real Estate, added: “CIT have created an excellent product in 12 Arthur Street and it continues to attract good tenant interest, presenting superbly well and standing out from the competition.”
Toby Croft of CIT added: “We are very pleased to continue on the success of recent lettings and to welcome UPP to 12 Arthur Street.”