Stephenson Harwood LLP has advised Schroder UK Real Estate Fundon a deal with Arrival to increase its office letting at SREF’s Kensington Village, London.
Arrival, a UK electric vehicle start-up, recently secured funding – US$118 million from funds managed by BlackRock – to help the group accelerate its growth. Arrival – which will occupy the whole of Beaumont House, Kensington Village, on a 15-year lease – will use the increased space to accommodate its growing team, and research and development activities. The deal sees Arrival’s office space increase from 41,000 sq ft to approximately 80,000 sq ft.
Kensington Village, located in west London, comprises former Victorian warehouses which have been redeveloped into modern workspaces for innovative businesses. SREF ensures that environmental, social and governance aspects are incorporated into its investment strategy, and this letting expansion deal with Arrival is in line with this sustainable approach.
The Stephenson Harwood team was led by partner Simon Brading (Picture), who was supported by senior associate Hannah Nicholls and associate Robin Willard.
Law Firms: Stephenson Harwood;
Clients: Schroder UK Real Estate Fund;