Four lettings and green light for Howard de Walden in Marylebone

The Howard de Walden Estate has secured four lettings for its newly refurbished office building at 51 Welbeck Street in London alongside receiving planning permission to refurbish its Marylebone headquarters.

In the first deal, the Estate has secured Monarch Capital, Incisive Health, Reef Estates and Big Win Philanthropy to take 11,000 sq ft across the first to fifth floors of 51 Welbeck Street in Marylebone. All four new tenants have agreed 10 year terms at rents of £81/sq ft.

Alongside the new lettings, Howard de Walden has received planning consent from Westminster City Council to refurbish its existing Marylebone premises at 23 Queen Anne Street and the adjoining building at 35 Harley Street to create a new head office for its 100-strong team.

This project will be led by the Estate’s in-house team and look to move to an open plan working environment. Building work will commence in the first half of 2019 and the project is set to be completed in quarter one of 2021.

In the interim period, the Estate has announced plans to relocate to an alternative office nearby.

Andrew Hynard, chief executive of The Howard de Walden Estate, said: “This is a very exciting time for the Estate and we are delighted that through this significant investment in the heart of Marylebone, we will be able to make the fantastic ideas behind this project a reality.

“The project illustrates the Estate’s drive to invest in its people and demonstrates its long-term commitment to the area. It is designed to benefit both the team and the occupiers with whom we engage.”

GN2 and Cushman and Wakefield acted as joint agents on the Welbeck Street lettings.

Elsewhere in Marylebone GN2 has let 700 sq ft on 2nd floor at 37 Queen Anne Street on behalf of a private landlord. The tenant agreed a 10 year lease with a five year break at £35,000 pa with 9 months’ rent free period.

Julie Rees, managing partner at GN2 said, “These lettings show there is still strong activity in the Marylebone area, particularly for new or newly refurbished space -which can attract top rents.”