Lothbury Lands Green Energy Business For Oxford’s Clarendon Quarter
Real estate investment manager, Lothbury Investment Management, has
completed the pre-letting of the entirety of the office accommodation at North
Bailey House in Oxford’s Clarendon Quarter, on behalf of the Clarendon Unit
Trust.
Ryze Hydrogen, a leading supplier of the UK’s hydrogen and hydrogen infrastructure,
has taken a pre-let of all the office accommodation at North Bailey House on a 10-year
term, comprising 22,639 sq ft over basement, ground, first, second, third and fourth
floors equating to £63.00 per sq ft on the office NIA. The building, which is rated
BREEAM ‘Excellent’, offers sustainable, flexible office space and includes a fourth-floor
roof terrace, a breakout space in the ground floor reception area and a range of
stunning design features.
North Bailey House is the first phase of the wider Clarendon Quarter redevelopment.
This comprises the transformation of the former shopping centre which received
planning committee approval last year for a new, landmark 226,547 sq ft mixed-use
scheme, with a 50,279 sq ft high-specification research and development facility,
103,259 sq ft of Grade A office accommodation, 50,147 sq ft of student
accommodation, 22,862 sq ft of retail and leisure units, as well as a new public square.
Completion of the first phase is scheduled for September 2023.
The letting follows the creation of a joint venture between Clarendon LP GP Ltd and
Oxford Science Enterprises, for a pre-let of all the laboratory accommodation within the
second phase of the redevelopment, which is due to commence shortly.
Adam Smith, deputy chief executive at Lothbury Investment Management, said: “North
Bailey House is a landmark development for Oxford. It is constructed with sustainability
at its very heart, achieving BREAM ‘Excellent’ and Net Carbon Zero in its construction. It
will also provide best in class end of journey facilities and ample bike storage, promoting
sustainable work travel, reflected in its Active Score Platinum accreditation for Active
Travel provision. This level of sustainability will make it the hallmark for office
accommodation and is key to Lothbury’s commitment to sustainable development.
“We are delighted that Ryze Hydrogen, leaders in their field and a company committed to
tackling climate change with zero emission fuel technologies, has taken the office
accommodation in its entirety. They are an excellent tenant for this exceptional building,
which forms the gateway to the knowledge cluster we are seeking to develop at
Clarendon Quarter.”
Jamie Burns, Group Chief Financial Officer at Ryze Hydrogen, said: “North Bailey House
is an ideal property for our group of businesses as we accelerate the creation of the new
hydrogen economy. The building’s sustainable standards reflect our own world-leading
net zero mission to decarbonise transportation and industry in the UK and beyond; and
provides the opportunity to bring together our chain of innovative businesses under one
roof in the heart of Oxford.”
The redevelopment of North Bailey House also includes a restaurant/retail unit at ground
and basement levels totalling 5,996 sq ft, which is currently being offered to let as a
whole or part by JLL and Savills. Details are on the website.
Lothbury was represented by Bidwells and Savills. Ryze Hydrogen was represented by
CBRE.
