Westfield books Coral for Stratford HQ

By Paul Norman Laura Spence - Tuesday, November 01, 2011 15:44

Westfield has signed Coral Bookmaker for 30,793 sq ft of offices at One Stratford Place at its £1.45bn Stratford City scheme opposite the Olympics stadium in east London, CoStar News can reveal. Coral is the first private company to sign for offices at the Olympic park.

The building forms part of the first phase 128,431 sq ft of offices being developed within Westfield’s Stratford City shopping centre, offices and housing complex.

Westfield has let the seventh and part of the eighth floor of the building to Coral which is moving from head offices in Barking. Team GB has already signed a short-term lease on the eighth floor. Rents are understood to be around £35 per sq ft.

The 10-storey One Stratford Place is the first phase of offices to be delivered at Westfield Stratford City. Post-games, Westfield plans to deliver a further 1m sq ft of offices in three further phases and, advised by CB Richard Ellis and Cushman & Wakefield, has been talking to major occupiers about prelet opportunities.

The building is located at the end of the pedestrian footbridge which leads into the Olympic Park and commands views across the entire Olympic site, the City of London and Canary Wharf.

The building includes 21,000 sq ft floor plates.

One Stratford Place was recently announced as the home of the British Olympic Association (BOA) during the 2012 Olympics. Team GB will take occupation of 21,000 sq ft on the eighth floor of the building from January 2012.

Following the conclusion of the Olympic Games the space will be handed over to the British Paralympic Association to support Paralympics GB.

CBRE and Cushman & Wakefield acted for Westfield. Gerald Eve acted for Coral.

pnorman@costar.co.uk and lspence@costar.co.uk 

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