21 May 2019
Pembroke Signs 115,000 Sqft Pre-Letting To Brewin Dolphin Plc For Major Repositioning Project Opposite St Paul’s
Pembroke today announces that Brewin Dolphin plc, one of the largest British investment management and financial planning firms, has taken the entirety of the office space at 25 Cannon Street, comprising 115,000 sq ft (10,684 sq m) on a 15-year lease.
Brewin Dolphin will take occupation after Pembroke completes the comprehensive repositioning of the distinctive Portland stone-clad building, opposite St Paul’s Cathedral.
Planning permission was granted in late 2018 for an extensive repositioning of 25 Cannon Street to create 120,400 sq ft of high-specification office and mixed-use space over five floors. Award-winning architecture practice Buckley Grey Yeoman has re-imagined the space to meet the demands of today’s urban workforce, with an expansive 5,400 sq ft (502 sq m) private roof terrace offering unrivalled views of the Cathedral, a stunning double height reception space at ground floor, and a range of complementary mixed-uses along bustling Watling Street.
Established in 1762, Brewin Dolphin has 30 offices across the UK, Channel Islands and the Republic of Ireland. The move to 25 Cannon Street will see the investment management and financial planning firm establish its high-profile new London headquarters at this prestigious City of London address.
Grant Parkinson, COO of wealth manager Brewin Dolphin said “The continued growth of our business means that we are expanding beyond the capacity of our current headquarters. 25 Cannon Street is a very high-quality development which will provide a terrific environment for both clients and colleagues.”
Nick Moldon, Senior Vice President and Head of UK and Germany at Pembroke, commented: “We are excited to announce Brewin Dolphin as the office occupier for 25 Cannon Street, testament to the quality and innovation we have brought to this wide-ranging repositioning programme. We continually seek opportunities to improve and enhance our assets, creating spaces that meet the needs of the urban workforce, while responding to the unique context and rich history of the local environment. At 25 Cannon Street, we are bringing our in-depth knowledge of this area and our special understanding of city real estate to re-imagine a distinctive building for the future.”
25 Cannon Street is currently occupied by Fidelity International, the global investment and savings business, which will soon be moving its London base across the road to 4 Cannon Street, another Pembroke property. Pembroke has recently completed the ground-up redevelopment of 4 Cannon Street, pre-letting the entirety of the 106,000 sq ft (9,850 sq m) prime office building to Fidelity in 2016.
The repositioning of 25 Cannon Street will mark Pembroke’s fifth major development project in London, having originally developed 25 Cannon Street itself in 2000, and subsequently completed projects at 49 Park Lane, 10 Finsbury Square and most recently, 4 Cannon Street. Pembroke’s global development track record includes a significant portion of its own 8.6m sq ft (802,000 sq m) portfolio across North America, Europe and Asia Pacific.