November 10, 2021FUNDING SECURED FOR 101 WHITECHAPEL HIGH STREET, LONDON
10 November 2021. (LONDON) South Street Asset Management (“SSAM”) is delighted to announce that contracts have been exchanged with Henderson Park to secure the funding and delivery of 101 Whitechapel High Street, London E1, a major office-led redevelopment scheme adjacent to Aldgate East underground station.
SSAM will now work in partnership with Henderson Park to secure full planning consent for the Foster + Partners designed scheme and take forward the delivery of the development.
The proposed plans for the site include the retention of an attractive four-storey Victorian façade, from which a 280,000 sq ft NIA office and retail scheme will step back. The offices will offer modern, amenity rich and technologically advanced space, including dedicated affordable workspace and be built to the highest sustainability and wellness standards, targeting BREEAM Outstanding and WELL Platinum certifications. The offices will also incorporate numerous external terraces and access to fresh air on multiple levels. In addition, the proposals include retail and food and beverage offerings at ground level, as well as extensive public realm improvements.
101 Whitechapel High Street occupies a prominent site on the corner of Whitechapel High Street and Commercial Street, which is at the heart of London’s tech belt and acts as a gateway between the City of London and Aldgate in the city’s East End. Aldgate is served by several tube and mainline stations which are a short walk from the site. The new Elizabeth Line is due to open next year with stations at nearby Liverpool Street and Whitechapel providing further transport options that will reduce journey times across London and open direct access to both the suburbs and commuter belts to the east and west of London.
The area has also undergone a dramatic transformation in recent years and is now firmly established as an innovation and enterprise hotspot for major tech and media companies looking for large floor plates, as well as finance and professional services firms. Furthermore, the area is expected to benefit from the emergence of Whitechapel as the life science hub of London, with significant investment and support from the Government already committed.
Nick Weber, Founding Partner of Henderson Park, commented: “101 Whitechapel High Street represents a significant opportunity to bring forward a proposed prime new office development alongside South Street Asset Management, while working together with Foster + Partners as leaders in their respective fields. Built to the highest sustainability standards, the project’s innovative design, combined with the people-focused and ‘smart’ office space we are proposing, align perfectly with the enhanced standards the modern occupier demands. As our recent investment track record demonstrates, we have high confidence in London’s continued position as a world leading city, which is supported by the ongoing recognition amongst businesses of the importance of the office as a place of work and collaboration.”
Asif Rangoonwala, Founder of South Street Asset Management, said: “We are delighted to be partnering with Henderson Park to take forward the delivery of this important project. This transaction is an important milestone in the delivery of our long-term vision for the site; to deliver a market-leading, world-class building in this exciting and dynamic central London submarket.”
For further information, please contact:
Richard Sunderland / Ellie Sweeney / Andrew Davis
+44 (0) 20 3727 1000
South Street Asset Management
Adnan Shaikh, Co-Founder
+44 (0)20 7478 9092
+44 (0)20 7182 2000
About Henderson Park
Henderson Park is a pan-European private equity property manager based in London. The firm has invested approximately $11 billion in building a portfolio of flagship real estate assets across Europe, with a presence in major cities and capitals in France, Germany, Greece, Ireland, Poland, Portugal, Spain and the UK. Henderson Park seeks high quality assets in prime locations where it can identify the potential for unlocking or creating value through asset management, or by taking on and working in complex situations. The company’s current portfolio is diversified across various sectors such as office, logistics, multifamily, student housing, hospitality and retail, including several real estate development projects. Henderson Park strives to work and build long-term strategic relationships with the best local partners. Henderson Park is led by Nick Weber, its CEO and founding partner.
Henderson Park is a signatory of the UN PRI.
Visit www.hendersonpark.com for more information.
South Street Asset Management
South Street is an independent UK based limited company, fully integrated manager, operator and developer of commercial real estate. The diverse South Street portfolio includes office, retail, residential, student and industrial properties across UK and Europe. We now manage in excess of £600M of assets. South Street has 40 employees across 3 UK offices (headquartered in London) and offers a full service of investment, asset and development management.