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10 Whitechapel High Street

10 Whitechapel High Street

March 2011
The White Chapel Building in October 2016

The White Chapel Building in October 2016

23.10.2017
The White Chapel Building

The White Chapel Building

23.10.2017

The White Chapel Building

Address:
10 Whitechapel High Street, London E1 8NR
Type:
Commercial
Completion:
1988
Area:
225,000 sq ft
Offices:
1
Viewed:
12948

Description of The White Chapel Building

The White Chapel Building at 10 Whitechapel High Street is a commercial building.

Former Royal Bank of Scotland offices.

2016 Autumn - the building is refurbished by Derwent London.

2015 Summer - the building is acquired by Derwent London for £132m.

2014 November - RBS puts the building for sale.

Formerly known as Aldgate Union.

Connected Companies

Manager:

Buildington Rating & Notes

News & Comments: (4)

Buildington
2016/10/04 09:56

Derwent London has pre-let the top two floors at The White Chapel Building to Government Digital Service (“GDS”).

The initial rent is £2.8m pa or £52 per sq ft, and is above June 2016 ERV. GDS is taking 54,700 sq ft on a 10-year lease with a break in year five. The rent free period is 8 months rising to 18 months if no breaks are exercised.In

The Government has reaffirmed its commitment to GDS and the work they are doing to support transformation across departments. The GDS team will be moving to modern and expanded offices to create a new digital hub ideally situated close to the tech cluster of East London.

Ben Gummer, Minister for the Cabinet Office and Paymaster General, said:

“After visiting the GDS team myself in recent weeks it is even more important to me that the brilliant people that work there get a brilliant place in which to work. With more money and improved offices, GDS can accelerate their efforts to transform and improve public services right across the UK.”

John Burns, Chief Executive Officer of Derwent London, commented:

“The arrival of GDS is another great addition to The White Chapel Building which now hosts an exciting mix of occupiers across the tech and professional services sector. The spread of activities and commitment endorses our strategy of creating a mid-market rental product in this significantly improved area on the eastern side of the City and the Tech Belt.”

Derwent London’s agents were Cushman & Wakefield, BNP Paribas Real Estate and Colliers International.

Buildington
2016/07/19 16:12

Derwent London has pre-let 84,600 sq ft in four office transactions at The White Chapel Building, representing 46% of Phase 1.

The refurbishment totalling 185,000 sq ft has attracted a range of businesses including media, professional services and shipping. The rent is £4.0m pa, 8% above December 2015 ERV with c.70% signed since the EU referendum. All are on ten-year leases, with 59% subject to a five year break and half subject to minimum rental uplifts on first review. The average rent free period is 8 months for the two leases where there are tenant breaks, rising to 17 months if no breaks are exercised.

The 8-storey White Chapel Building was acquired with vacant possession in December 2015 and the refurbishment of Phase 1 is due for completion in Q4. The majority of the remaining available space consists of the top three floors.

The building will include a new 7,000 sq ft reception area with an independent café, and an external terrace. Phase 2 will comprise predominantly the lower ground floors representing another c.85,000 sq ft of space where work could start in 2017.

John Burns, Chief Executive Officer of Derwent London, commented:

“We are very pleased to introduce four new occupiers to our portfolio, three of which signed leases after the EU referendum. Their broad spread of activities and commitment is an endorsement of our strategy of creating a mid-market rental product in this significantly improved area on the eastern side of the City and the Tech Belt.”

Derwent London’s letting agents on The White Chapel Building are BNP Paribas, Colliers and Cushman & Wakefield.

Buildington
2015/07/23 20:55

Derwent London has bought Aldgate Union.

Aldgate Union is situated on a one acre site and comprises an 8-storey office building totalling 255,000 sq ft over ground, seven upper floors and two lower ground floors.

The property has generous floor to ceiling heights, good natural light and excellent transport connections as well as column free floor plates of c.26,500 sq ft around a central atrium.

The building is located directly opposite Aldgate East underground station and close to Liverpool Street and Whitechapel Crossrail stations.

The property is currently occupied by RBS and was comprehensively refurbished in 2008.

John Burns, Chief Executive Officer, commented:

“We are delighted to have acquired a prominent property in this fast improving Whitechapel location which increases our Tech Belt holdings to 2.4 million sq ft. Although soon to be vacant the building is in good condition and we expect to quickly re-let it on a multi-occupier basis after modest refurbishment. As with most of our recent purchases this property offers significant longer term regeneration opportunities and adds to our future development pipeline.”

Buildington
2014/11/28 10:57

The Royal Bank of Scotland is close to putting 10 Whitechapel Street in Aldgate up for sale, reports City A.M.

The bank is said to have appointed agents at DTZ to sell Aldgate Union on Whitechapel High Street, with offers expected to start at around £90m, City A.M. understands.

Source: City A.M. www.cityam.com 28.11.2014

*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.

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