Tower Hamlets office secures university tenant following £11m transformation

The site of a former department store in East London has been let to one of the city’s educational institutions following a multi-million pound refurbishment.

Queen Mary University of London has signed a 15-year lease for 55,380 sq ft space at Department W, located in the 1927 Beaux Arts building on Mile End Road.

Formerly Wickham’s Department Store until its closure in 1965, Schroder UK Real Estate Fund (SREF) has invested £11m into its redevelopment in the office space.

The university will occupy the office space at Department W in its entirety, with the building’s fit-out set to commence later this year, ready for its scheduled opening to students and staff in early 2021.

Jessica Berney, fund manager for SREF, commented: “Whitechapel is becoming an increasingly exciting London submarket, particularly in the field of research and development, and local pride and history is a significant part of its growing occupier appeal.

“Our investment needed to celebrate and draw attention to this building’s heritage and draw the community in.

“The multi-million pound commitment to create this unique, bespoke space was made with this context in mind and a prestigious and proudly East End educational institution has seized the opportunity to occupy this inspiring property, beginning the newest chapter in the building’s rich history.”

Colliers International and Allsop acted for SREF and Daniel Watney represented Queen Mary.

James Neville, partner at Allsop, added: “It’s great to have signed this lease over to Queen Mary University, who were looking to expand outside its central London campus.

“The eastern corridor of the city is experiencing a significant migration of businesses from the inner city and is continuing to demonstrate the strength of the Whitechapel submarket.”