Boodle Hatfield advises flexible office space specialists Canvas Offices on new 35,000 SQ FT location above Holborn Tube Station
Boodle Hatfield has advised fast-growing flexible office space provider, Canvas Offices on securing a long-term lease of 88 Kingsway, an ornate Victorian building above Holborn tube station.
Having doubled the size of its portfolio within the last nine months, Canvas Offices plans to launch its 15th building, providing flexible office space in the former home of the British Electrical Federation in conjunction with Hagag-Gaya Holdings, who acquired the property in 2021.
Yaron Rosenblum, Co-Founder and CEO of Canvas Offices, confirmed: “88 Kingsway is an incredible building that still boasts a number of original features throughout. Spanning seven different floors, the space has amazing potential to be transformed into a thriving, design-led workspace in one of London’s top locations with highly accessible transport connections east to west and north to south via the Central Line and Piccadilly Lines respectively. We are really excited to commence works, have a unique and engaging design concept in place and are aiming to open its doors to our first tenants from spring 2024.”
“The property market in London is intensely competitive and the success of Canvas Offices has been dependent on offering our clients the very best. The reputation and expertise of Boodle Hatfield’s commercial real estate practice makes them natural partners for Canvas Offices and we were delighted to work closely throughout the entire process with a professional like David Rawlence, who is known in the industry for his oversight and efficiency. In such a complex deal we needed a problem solver with positive output and David and Nick were exactly that.”
Commercial Real Estate Partner, David Rawlence comments: “We are delighted to have advised Canvas Offices as they grow their serviced office portfolio in central London. Once transformed 88 Kingsway will be a vibrant and dynamic space that will house businesses of all shapes and sizes. This transaction is another example that reflects the shift in demand as more and more companies seek to adapt their workspaces.”
Boodle Hatfield has advised Canvas on the lease of the upper parts of Holborn station, along with the construction aspects of the extensive refurbishment project. The transaction was led by Commercial Real Estate Partner, David Rawlence with assistance from Real Estate Associate, Nick Salmon and Construction Associate, Oliver Johnson.