GE could become first major tenant of The Ark

GE could become one of the first major tenants to take on office space at The Ark.

The technology, media and financial services company currently own 170,000 square feet of the Hammersmith building and is currently in talks to take around 70,000 square feet. The firm will consolidate staff from their Central London offices, expected to include its 500,000 square feet at Agar Street, its 43,000 square feet base at 30 Berkeley Square and 9,600 square feet on Hammersmith Road. GE are expected to keep some of the space at Berkeley Square for its executive team.

The latest quoting rent for The Ark is currently £45 per square foot. A source close to the deal said; “I don’t know how far down the line it is yet, but it is a real prospect”.

Despite being linked with a number of tenants such as QVC and Chrysalis, the development has only managed to secure one tenant since it was relaunched in 2007. In July, Open TV agreed to lease 7,000 square feet on a 10 year lease.

GE, Landid and O&H bought The Ark in 2006 for £49.5 million and spent £20 million refurbishing it.

Jones Lang LaSalle and Knight Frank are letting agents, while GE is advised by CB Richard Ellis.

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