Invesco Real Estate and YardNine secure further Fifty Paddington letting with new lease to Shionogi

Invesco Real Estate, the global real estate investment manager, alongside development manager YardNine have agreed a new lease with Japanese pharmaceutical company, Shionogi, for 13,628 sq ft at fifty Paddington. Following this, only 25,000 sq ft across three units remains available at the 85,000 sq ft Grade A office and retail development.

Due to take occupancy of the third floor of fifty Paddington in Q2 2024, Shionogi will join a diverse line-up of tenants, including healthcare company, Oracle; software company, ISN; St James’s Place Wealth Management and the English Football League. The development is also home to casual dining restaurant, Vapiano, personal trainer-led gym experience, Ultimate Performance and artisan coffee operator, Treelogy Speciality Coffee.

Located less than 100 yards from the entrance to the Elizabeth line in Paddington Station, fifty Paddington offers easy access to local, national and international travel links via London Underground, National Rail and the Heathrow Express.

Occupiers benefit from close proximity to a number of hotels, including the forthcoming 369-bedroom hotel, to be operated by Premier Inn and hub by Premier Inn, at 40 Eastbourne Terrace, as well as the extensive amenity offer in the Paddington, Marylebone and the West End and the green spaces of Hyde Park and Kensington Gardens.

Mark Younger, Director of YardNine said:

“Ranging from pharmaceutical and healthcare companies to software, football and wealth management, fifty Paddington is now home to a genuinely diverse and exciting mix of tenants. This leasing success reflects the development’s high quality office space and the strong appeal of the area and its amenities, underpinned by excellent transport links and a vibrant mix of retailers, hotels and restaurants.”

 Ciaran Butler, Director of Investments – UK, Invesco Real Estate commented: “We are thrilled to welcome another international business to the diverse tenant mix at Fifty. This addition underscores the wide-ranging appeal and robust fundamentals of our property, representing multiple sub-sectors of the economy. As the building approaches stabilisation, we are now delivering on our investment objectives for our underlying investor. Looking ahead, we are excited by the asset management possibilities that the future holds.”

YardNine was advised by Colliers, CBRE and Ashurst.