Faced with the imminent expiry of its office lease in 33 Grosvenor Place, Belgravia, Hartree Partners (UK) Limited turned to tenant representation specialists McCalmont-Woods Real Estate LLP for help in finding a new London office space.

Working to a tight timetable and with Victoria offices in scarce supply, McCalmont-Woods successfully identified and negotiated a new lease on 11,300 sq ft Grade A space at Cardinal Place, 100 Victoria Street, SW1 with landlord, Land Securities.

Formerly occupied by Microsoft, the 2nd floor offices needed refurbishment and in recognition of the tight timescales involved, it was agreed that office design & build specialists’ Peldon Rose would undertake both the landlord’s Cat A works and Hartee’s own Cat B fitting-out works in order to accelerate Hartree’s move-in date.

Land Securities’ 660,000 sq ft Cardinal Place is undoubtedly one of the most recognisable sights in Victoria, the dramatic sweep of its glass facade narrowing to a single point at the corner of Bressenden Place and Victoria Street. A new entrance to the underground and north ticket hall (providing improved access between the National Rail and Tube platforms) is due to open shortly immediately opposite the entrance to Cardinal Place.

Jon O’Neill, Hartee’s Managing Director said “Nick did a great job of finding a new London office space for Hartree. We appointed him after a previous property deal fell through at a late stage, leaving us with a relatively tight timeline to find new office space. Nick worked hard and found us a great space before it got advertised on the open market. He is a good communicator and we felt very well informed throughout the whole process; we would not hesitate to use him again”.

Hartree Partners, LP is a global merchant commodities firm specializing in energy and its associated industries. Founded originally as Hess Energy Trading Company LLC (HETCO) in 1997, Hartree has a global reach spanning 10 offices and approximately 85 traders and originators. The company’s rigorous research, analytical approach, and entrepreneurial culture have contributed to its strong track record and growth over that time.

1minster

Niche London real estate agency McCalmont-Woods has advised Ipes (UK) Ltd on its expansion-led UK office headquarters relocation from Victoria to the City.

Ipes is a leading provider of outsourced services to the European Private Equity market and provides administration and depository oversight over $102bn of assets for 262 funds from 4 European offices in Guernsey, Jersey, London and Luxembourg where it currently employs a team of 181 people.

Ipes has taken 8,100 sq ft on the 9th floor of 1 Minster Court, EC3. A new 10-year lease was agreed on the newly refurbished landmark building with the landlord, Prudential Assurance, advised by CBRE and Spring4.

Nick McCalmont-Woods, CEO of McCalmont-Woods said: “Ipes occupied 3,800 sq ft in 10 Lower Grovenor Place, SW1 but its continued success meant that relocation was necessary to accommodate the growth in headcount. McCalmont-Woods was instructed to initiate a review of suitable property options across the West End, Mid Town and City office markets. A short list was whittled down with the competitive pricing and greater availability of larger floor-plates in the City coming to the fore.”

Ben Cook, Ipes (UK) Ltd Managing Director said: “Ipes has enjoyed huge growth and with our move we have created a more modern, efficient environment for staff. From shortlisting, bid submission to heads of terms McCalmont-Woods delivered excellence as always.”