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Brixton Goes Into Hyperlocal S

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Brixton Goes Into Hyperlocal S Brixton is fast becoming not only a place to play, but also to work. Its proximity to transport links, ready supply of young professionals and cool nightlife is attracting companies at a pace where demand is outstripping supply. Union Street Partners are actively representing 55,000 sq ft of office space across seven properties in the area and we believe we are at a critical point of opportunity for further redevelopment in the area, especially with the concept of ‘Hyperlocal’ space becoming more important in the post-Covid world. Perhaps surprisingly, the total stock of office space in the Brixton area stands at just over one million square feet but only a fraction of that is high quality, the remainder being secondhand or studio/workshop style. This report looks at the active and current occupiers, what changes are ahead for the area and our view on the impact of Covid-19. SIGNIFICANT OCCUPIERS AMENITIES KEY OFFICE BUILDINGS FUTURE OFFICE DEVELOPMENTS 1 Squire & Partners 7 O2 Academy 12 Piano House 17 Coldharbour Works Music venue TCN Newmark Properties 2 Jellyfish Pictures 8 Windmill Brixton 13 The Viaduct 18 Blue Star House Working windmill Lexadon Derwent London 3 Lambeth Council 9 Pop Brixton 14 Walton Lodge Laundry 19 Department Store Studios Retail & leisure Lexadon Squire & Partners 4 British Refugee Council 10 Canova Hall 15 International House 20 Pope’s Road Development Bar & Cafe Lambeth Hondo Enterprises 5 Dalton Maag 11 Brixton House Theatre 16 Kennington Park 21 Somerleyton Road Theatre venue Workspace Lambeth 6 Workspace 3 16 A203 7 S T JOHN'S CRESCENT ARK WALK STOCKWELL P STANSFIELD ROAD ST S O T C O KW C E K LL DALYELL ROAD W R ASTORIA WALK Brixton WILTSHIRE ROAD E OAD L CHANTREY ROAD L BRIXTON ROAD MORDAUNT STREET A WESTERN ROAD V E G N R U ES E H 3 5 18 AM HARGWYNE STREET R O A D GATELEY ROAD 3 15 D 2 OA A 19 S R IELD LLEF CANTERBURY C BE R E 9 S OSS ROAD C PULR E N T FERNDALE ROAD E C 1 4 10 BRIXTON A PL D STATION E Brixton A V I ROAD O H R 2 MARKET S BEE E' G 17 20 P AD R RO E GLENDALL STREET ION S PO TAT H XTON S AM BRI R O AD A MOORLAND ROAD O V D LE R A A Brixton L D E N FERN T IA P L A CE COLDHARBOUR LANE ALLARDYCE STREET M E ATLANTIC ROAD BRIXTON D W VILLAGE I BRIXTON N MARKET SHANNON GROVE S MARKET T R ELECTRIC AVENUE A2217 DUCIE STREET EE 13 T NE LA A23 C I R ACE ERR ECT 14 N T L HTO E COLDHARBOUR LANE BRIG 12 T R 11 IN EET IT A2217 TR Y S EY G TL A SAN RDEN S ROAD 21 CROFT RUSH S CONCANON ROAD O ACRE LANE M E R L EFFRA ROAD EY RAEBURN STREET TO N R PORDEN ROAD OA SALTOUN ROAD D D A 3 6 A2217 O R R T KNE A C L M U B A KELLETT ROAD R O RAILTON ROAD E A LAN D ACRE MERVAN ROAD BRIXTON HILL A204 BANKTON ROAD BAYTREE ROAD 3 A204 LEESON ROAD RATTRAY ROAD SUDBOU PROBERT ROAD RNE ROAD EFFRA ROAD DALBERG ROAD D ROA LF JE BARNWELL ROAD 3 BEVERSTONE ROAD ST MATTHEW'S ROAD HAYT ER R OAD HICKEN ROAD 8 BRIXTON “THE BEST Brixton has some interesting start-up companies locating to the area and the best space has been achieving surprisingly good leasing numbers. SPACE HAS Workspace have been the champions of Brixton office space BEEN ACHIEVING for many years with their Kennington Park scheme. The campus site comprises almost 400,000 sq ft of impressive Victorian brick warehouse space, which has been converted SURPRISINGLY into very cool flexible offices. GOOD LEASING Lexadon has built up a portfolio of both residential and commercial buildings since the mid ‘90s. Their recent conversion of the Viaduct and Walton Laundry buildings have NUMBERS” been hugely popular amongst SMEs seeking smaller, quality space. They have achieved some standout rents by creating high-quality but economic units that particularly appeal to the sensibility of the area with exposed services, sandblasted walls, good ceiling heights and with low service charges. International House is a 50,000 sq ft building close to Pop Brixton, owned by Lambeth. It has been leased to 3space as an operator and is targeted at creative companies as an innovation hub. It is one of the first examples of affordable workspace in London and currently the largest. Image: Jack Lewis Williams FUTURE BRIXTON Most recently Brixton has enjoyed some press attention with the purchase of Blue Star House by Derwent London just “IT IS A SHOWCASE before lockdown. The building is a 50,000 sq ft 1960’s block opposite the O2 Academy and will be demolished to make way FOR WHAT WELL- for a larger new scheme. The new building will take advantage of a significant car park site to the rear. Blue Star House is DESIGNED SPACE Derwent‘s first foray into the Brixton area and follows on from their success at Wedge House on Blackfriars Road, now sold to CAN OFFER” the Hoxton Hotel. They are the ideal developer to capitalise on the nature of the location and embrace what it can offer. The Shakespeare Business Centre on Coldharbour Lane is currently being refurbished and rebranded Coldharbour Works. Newmark Properties will create studio and workshop space in the 45,000 sq ft building on flexible terms. Their strategy is based around the current gap in the market for flexible space in Brixton to capture both local demand and larger tenants from elsewhere in London. Squires Architects purchased the Department Store building on Ferndale Road from Dorrington five years ago and have lovingly refurbished the building in their own ‘premium raw’ style as their own HQ. It is a showcase for what well-designed space Image: Courtesy of Squire & Partners can offer and is also a genuine hub for the local community, who are able to use the basement exhibition and meeting Lambeth Council have led the way, in their push to create a tech spaces. Squires are now developing the neighbouring site into and innovation hub in Brixton, first with International House and a 15,000 sq ft ‘hyperlocal’ flexible office, which Union Street now with the various new office spaces they are refurbishing. Partners will be bringing to the market later this year. It will They are due to complete the commercial development of be a very stylish example of contemporary design using cross Carlton Mansions in March 2021 and the theatre in June 2021. laminated timber as part of the structure. The Department Somerleyton Road is a new development which will be the new Store Studios will offer a brand new alternative to working from home to Ovalhouse Theatre (now Brixton House), with additional home, with all the lifestyle and wellness benefits that Squires floors of office accommodation located at the top of the building incorporate into their buildings. and with private wrap around balconies providing quality office accommodation in the heart of Brixton. Carlton Mansions is a Victorian building which has been totally refurbished and will provide several good quality small to medium sized offices suitable for the many cultural and creative tenants looking to make Brixton their home. Hondo Enterprises, the owners of Brixton market have had plans approved for the 20-storey tower in the heart of Brixton. The Pope’s Road Development has suffered from many community objections but the owners claim it will deliver 2,000 jobs for Brixton and £2.8m a year for the local economy, as well as a new public square and community space. It will be a big step forward for commercial employment generating space that will perhaps change the local environment. Image: Courtesy of Lambeth Council/Brixton House Theatre IMPACT OF COVID-19 “MORE The pandemic has sadly influenced the iconic local amenities such as the Brixton Windmill Venue and the INDIVIDUALS O2 Academy. Hopefully, they will bounce back as soon as possible, to ensure that this incredibly vibrant area FAVOUR continues to attract so much attention. DECENTRALISED One of the longer lasting effects of coronavirus may well be to speed up the lifestyle nature of our BUT VIBRANT working environments going forward. Proximity to overground transport with less need for using the LOCATIONS” tube will be more popular, as will the ability to store bicycles onsite. Being closer to a generous supply of young employee talent is also a big draw for many companies in the current market. Office workers will no doubt be more comfortable with quicker, easier, and safer journeys to work if they live in the South London area talent pool. Whilst demand is more difficult to identify due to the current market conditions, Brixton remains a sought-after location and it is likely this will only get stronger as more individuals favour decentralised but vibrant locations. Image: Jack Lewis Williams CONTACT US Ann Ibrahim Vincent Cheung Head of Research Leasing & Development 020 7855 3550 020 3757 8571 [email protected] [email protected] Harriet De Freitas Mark Fisher Leasing & Development Leasing & Development 0203 328 5380 020 3328 5370 [email protected] [email protected] Union Street Partners www.unionstreetpartners.co.uk 10 Stoney Street London SE1 9AD 020 3757 7777 [email protected].
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