HB Reavis is in talks to sign Wise, the UK-based foreign exchange financial technology company formerly known as TransferWise, for 80,000 square feet of offices at its Worship Square development at 65 Clifton Street in Shoreditch, EC4A.
The expansionary move would see Wise move from the circa 50,000 square feet it occupies at Derwent's Tea Building on Shoreditch High Street and comes as the London office market sees an upturn in larger office moves.
Wise would be the second tenant at the building after European real estate developer HB Reavis confirmed that Frontier Economics would move its London headquarters to 33,000 square feet at the 140,000-square-foot development earlier this year in a transaction first revealed by CoStar News.
HB Reavis is targeting a WELL Platinum sustainability measure at Worship Square which includes 3,200 specimens of 90 NASA-approved air-purifying plants, rooftop terraces and a fitness studio. Employees are able to borrow a Brompton bike or access a personalised concierge service through the building app. There is also a street-level cycle store and changing facilities. It is on track to be delivered in early 2024.
CoStar News revealed European developer HB Reavis had bought the City fringe development opportunity, the Quick & Tower site in Shoreditch, for around £65 million in 2020.
The site at 67-73 Worship Street and 65 Clifton Street, London EC2, comprised a 54,000-square-foot office building, close to Liverpool Street station. The half-acre site was sold with planning in place for a circa 140,000 square foot Make-designed office scheme. HB Reavis is pushing on with plans for a 12-storey scheme, with nine floors above ground.
BH2 Newmark advises HB Reavis.
An HB Reavis spokesperson said: "We are encouraged by the interest that has been shown at Worship Square to date, testament to our team’s focus to deliver a next generation workspace focused on sustainability, wellbeing and creating a workplace community.
"That said, we’re not currently positioned to comment on transactions beyond Frontier Economics."
The talks continue as a number of major lettings have exchanged or completed in recent days, lifting the central London office market.
HSBC has exchanged to lease all of the 556,000-square-foot 81 Newgate Street in the City, while e-commerce giant Amazon has signed for 180,000 square feet of space previously earmarked by coworking group WeWork at Cain International's £800 million The Stage scheme on the site of Shakespeare’s Curtain Theatre in Shoreditch.
Last week CoStar News revealed that fintech bank Revolut is in talks to take around 113,000 square feet of offices at Quadrant and Oaktree's YY office development in Canary Wharf in what would be a significant boost for the estate.
Sainsbury's is under offer to lease around 70,000 square feet of offices at Helical's 240,000 square feet JJ Mack Building at 33 Charterhouse Sreet.