London property developer plots 'affordable' office rentsComments Off on London property developer plots 'affordable' office rents
A London property developer is to offer ‘affordable’ office rents at a major new Docklands building, to stop young companies being priced out of the capital.
Trilogy Property, partnering with LaSalle Investment Management, has unveiled proposals for a mega 600,000 square feet campus called Republic at East India docks.
Robert Wolstenholme, the boss of Trilogy, confirmed that early lettings would be at rents of less than £35 per square foot- a discount on prices in the City and West End of around 50% and at least 65% respectively.
He said: “There’s a war for talent in London, and we want to make sure it’s ‘priced in’ rather than priced out as we are hearing about some start-ups and major corporates thinking it is too expensive to work here.”
Property agents Allsop and CBRE have been hired to find tenants for the new space.
Subject to planning permission, the first phases will be finished in 2017.