Old Street Acquisition

27th March 2013

Richard Susskind and Company are very pleased to announce that we have acquired the 1st floor at 35 Old Street, EC1 on behalf of our clients, Adaptavist at a rent of only £22 psf on a new lease for a term of 5 years. The building is a warehouse conversion and the office itself offers polished timber floors, high ceilings and great natural light.

The majority of creative tenants looking in Clerkenwell and Shoreditch are seeking warehouse conversions with original features such as timber flooring and exposed columns. Director Jonathan Franks who acted on behalf of Adaptavist says “Because of the high demand for this type of space, it is not uncommon for this type of space to command a rent of £40 psf plus. By using us to act on their behalf, we were able to secure this property on terms far below what the market would expect.”

Based in Covent Garden, Adaptavist are a software development and consultancy company who support businesses who use their “Atlassian” software. The company was founded in 2005 and has been growing of an annual rate of about 65% ever since. With offices in San Francisco and London, Adaptavist decided to move into larger offices near ‘Silicon Roundabout‘ in Old Street to cope with rapid growth.

The company has taken 1,475 Sq Ft on the 1st floor of the property, which is located in a brilliant position close to Farringdon, Barbican and Old Street stations.

Anyone looking for assistance with their property search should call us on 020 7831 8311 to find out about our acquisition services.