Host of tech firms heading to Exchange Tower

By Rob Virtue on January 29, 2013 10:40 AM |

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South Quay-based Exchange Tower has reported a surge in business and is now 90 per cent let.

Owner of the property MGPA has tempted a number of firms to the office space over recent months with major refurbishment works encouraging the technology, media and telecommunications sector to the development.

Recent business included a five-year lease with software developer Infusion, a seven-year deal with developer Agilysys and a 10-year lease with fine art firm Momart.

Meanwhile, Hutchison Telecom and Wey Technology also agreed to move in.

Andrew Rose, vice-president at MGPA, said: "Exchange Tower is the best value building in E14 and one of the few offering high quality office space within the M25 at rents of £25-35 per sq ft.

"This has made it attractive to multiple occupiers, especially in the technology, media and telecommunications sector, and has significantly raised its value as an asset.

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Other tenants include Telecity, Rigel Shipping, Teliasonera and the Financial Ombudsman Service, which took 165,000sq ft on a 15-year lease starting next year.

Coffee specialists Taylor St Baristas has also moved in to run a cafe.

MGPA bought the 482,000 sq ft property from Hammerson in 2010 for £134 million.

The Exchange Tower refurbishment ensured an extensive power supply, back-up generators and improved connectivity.

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