REM announces the appointment of CBRE as joint agent to market 48 Pall Mall, a new flagship office development in St. James's.
1st February 2016- Real Estate Management UK Ltd (REM), the Development Manager of 48 Pall Mall and the asset manager behind The Shard and Park House, is pleased to announce the appointment of CBRE as joint agent to market 48 Pall Mall, a new flagship office development in the sought after West End location of St. James’s, London. REM is developing the property on behalf of the State of Qatar.
CBRE will join Savills to initiate the building’s floor-by-floor leasing campaign, as 48 Pall Mall nears practical completion at the end of Q1 2016. 48 Pall Mall will offer 31,000 sq ft of new Grade A office accommodation over seven levels on one of London’s most well-known streets with features including three private roof terraces, dedicated parking and an additional private entrance to the rear of the building. Designed to be BREEAM “Excellent”, the building will provide some of the very best office space in St James’s.
The development combines 48 and 49 Pall Mall into one building, retaining the latter’s historic façade. A new contemporary artwork by Timorous Beasties, the internationally acclaimed and multi-award winning design studio, will adorn the façade of 48 Pall Mall. A subtle, modern acanthus leaf design will be hand carved into the limestone to complement the classical acanthus motifs found in the original architectural features of the retained façade. A second artwork will be embossed in bronze concrete on the reception feature wall, emulating the building’s modern work spaces and bronze detailing of the ground floor glazing.
48 Pall Mall is situated in St James’s, one of the world’s most prestigious business districts, surrounded by fine dining restaurants, hotels, private members clubs, art galleries and renowned tailoring and luxury goods retailers. Regarded internationally as one of the most sought after office locations in London, The Crown Estate is investing £500 million in St James's to enhance and protect its future, bringing with it a new breed of modern businesses, galleries, restaurants, retailers and developments that will provide the much needed high specification office accommodation that has traditionally been rare in this neighbourhood.
Michael Baker, CEO of REM, commented: “48 Pall Mall was designed to provide high specification, premium workspace that can adapt to the changing demands of expanding global businesses. A floor by floor leasing strategy is due to commence in line with practical completion and CBRE and Savills have been appointed as they both have a deep knowledge of and a strong reputation in the area.”
Emma Crawford, Managing Director of Central London Leasing at CBRE said: “St. James’s has an enviable reputation as one of London’s most desirable districts. 48 Pall Mall is set to become another jewel in the crown of the area and we are delighted to have been appointed as the joint agents on the building.”