1056_N2965_a3digital
1056_N2960_a3digital
First floor office space
1056_N2972_a3digital

Case studies

29 Buckingham Gate, London, SW1

scroll

* Photography credit @dirklindnerphotography

Tuckerman was instructed in 2018 by Caledonia Investments to advise on the redevelopment of the recently acquired 29 Buckingham Gate, adjacent to their HQ at 30 Buckingham Gate. Working with Buckley Grey Yeoman and the client, we arrived at a superb scheme which involved the demolition of No 29 and the building of the building behind the façade.

The ground and first floors spanned both Nos 29 and 30, with just the lower ground and second floor within the curtilage of the original building, increasing the size of the demised area from c. 2,500 Sq Ft to 10,846 Sq Ft. Knowing that the undersail of No 30 would create challenges with natural light to some areas, we ensured that all other aspects of the design were best-in-class, including 2 terraces, a courtyard, and a beautiful sweeping cantilever staircase running from reception to first floor, creating an exceptional arrival experience and exceptional working environment.

 

Despite the pre-let marketing phase taking place during Lockdowns 2 and 3, we targeted a small number of local occupiers and their agents, for whom we hoped the building might be of particular interest, resulting in a prelet of the entire building to Truestart Limited, subsidiary of True Capital, on a new FRI lease for a term of ten years, with Tenant only option to determine at the end of the 5th year. The over all rent was £73,79 psf, which equated to £79.50psf on the first floor, £85psf on the exceptional second floor, and a reduced rent across the lower areas.

The terms of the deal exceeded our pre-Covid expectations and are a shining example how strong collaboration between client, architect and agent can result in a market-leading scheme that outperforms the competition.

Tuckerman acted for Caledonia and BDG Sparkes Porter acted for Truestart Limited.