5 December 2014 – Property Week
European Land has secured 50,000 sq ft of lettings at 5 Merchant Square at Paddington, leaving only one floor of the 15-storey building remaining
Global consumer transaction technologies firm NCR and telecoms infrastructure company Helios Towers Africa have taken space in the building.
They join a US healthcare firm, understood to be United Health Group, which has taken 14,000 sq ft in the building, in a deal tipped by Property Week in September.
The three new occupiers will join existing office tenants Marks & Spencer – which occupies eight floors in the building – and Avanta, which is currently fitting out the top four floors as a new serviced office centre. Virgin Active will also be opening a new 21,000 sq ft health club at the building in early 2015. When complete, the Merchant Square scheme will comprise six buildings including 1 Merchant Square, a 42-storey skyscraper. In total, it will provide more than 600 residential units and 500,000 sq ft of office space.
Knight Frank and Jones Lang LaSalle are the agents for 5 Merchant Square. JLL represented NCR and Lambert Smith Hampton represented Helios Towers Africa.