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31 JANUARY 2023
Over 50% of all Grosvenor’s onsite developments pre-let.
Hayfin, one of Europe's leading alternative asset management firms, is the first organisation to confirm space at Grosvenor’s 65 Davies Street development in Mayfair, taking 22,947 sq ft of the total 65,000 sq ft.
The letting brings the total of Grosvenor’s onsite developments pre-let to over 50%. This follows a series of successful leasing announcements including Javelin Global Commodities at the Ice Factory in Belgravia and a series of world leading designers signing at Newson’s Yard, a renovated timber works and extension to the Pimlico Design District.
65 Davies Street, located directly above the western concourse of the new Bond Street Elizabeth Line station next to Oxford Street, is one of the best-connected offices in London. Set over six floors, it is scheduled to complete in autumn 2023.
Designed by PLP Architecture, the building features a public art installation by Clare Twomey and a green trellis installation on the south façade, with local species of wildflowers selected to enhance biodiversity. The building uses a contextually relevant material palette of terracotta, stone and bronze and is fenestrated with large full-height windows.
Grosvenor is working with partners to invest £1.3bn across Mayfair and Belgravia over the next 10 years, with 14 major projects and 1m sq ft. of redevelopment already underway. This includes South Molton Triangle, a 2-acre mixed use £500m project being partly developed in a Joint Venture with Mitsui Fudosan UK and Grosvenor’s transformation of Grosvenor Square, London’s second largest square.
Hayfin will take the fourth and fifth floor at 65 Davies Street and in line with Grosvenor’s sustainability commitments, both parties have agreed green lease provisions.
Anna Bond, Executive Director – Development at Grosvenor Property UK said: “We’re delighted to secure Hayfin as our first occupier of 65 Davies Street. The recent opening of the Bond Street Elizabeth Line immediately below 65 Davies Street has really highlighted the exciting transformation happening in Mayfair.”
“Confirming this so far in advance of the building completing later this year, plus having 50% of our development pipeline pre-let is a positive endorsement of how successfully we are adapting our portfolio to meet the needs of modern occupiers, creating high quality space in excellent locations with great amenities.”
Knight Frank & JLL acted for Grosvenor, Hayfin were advised by CBRE.
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Grosvenor is an international organisation whose activities span urban property, food and agtech, rural estate management and support for philanthropic initiatives.
We are a values-led business which represents the Grosvenor family and share a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.
With a track record of over 340 years, we work to improve urban property and places in many of the world’s leading cities, promoting sustainability within the built environment and enhancing the wellbeing of customers and communities.
Our UK property business supports c1,000 businesses and tens of thousands of residents and workers across London’s West End each day. We also invest in, create and manage sustainable neighbourhoods in Liverpool and across England. As a 1.5oC aligned company, pioneering change and new ways of thinking about property we aim to ensure our places benefit both people and the planet over the long term.
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