22,000 sq ft let at Clarendon Quarter

All 22,639 sq ft of office space in North Bailey House at Oxford’s Clarendon Centre has been pre-let.

Ryze Hydrogen, supplier of hydrogen and hydrogen infrastructure, has taken all six floors of the building which is due for completion in September, on a 10-year lease. The deal equates to £63 per sq ft

Real estate investment manager Lothbury Investment Management completed the deal on behalf of the Clarendon Unit Trust.

The building is rated BREEAM Excellent, offers flexible office space and includes a fourth-floor roof terrace and a breakout space in the ground floor.

North Bailey House is the first phase of the wider 226, 547 sq ft Clarendon Quarter redevelopment which was approved last year.

It will include 50,279 sq ft R&D space, 103,259 sq ft of Grade A offices, 50,147 sq ft of student accommodation, 22,862 sq ft of retail and leisure units and a new public square.

Adam Smith, deputy chief executive at Lothbury Investment Management, said: “North Bailey House is a landmark development for Oxford. It is constructed with sustainability at its very heart, achieving BREAM Excellent and net carbon zero in its construction.

“It will also provide best in class end of journey facilities and ample bike storage, promoting sustainable work travel, reflected in its Active Score Platinum accreditation for active travel provision.

“This level of sustainability will make it the hallmark for office accommodation and is key to Lothbury’s commitment to sustainable development.

“We are delighted that Ryze Hydrogen, leaders in their field and a company committed to tackling climate change with zero emission fuel technologies, has taken the office accommodation in its entirety.

“They are an excellent tenant for this exceptional building, which forms the gateway to the knowledge cluster we are seeking to develop at Clarendon Quarter.”

Jamie Burns, group chief financial officer at Ryze Hydrogen, said: “North Bailey House is an ideal property for our group of businesses as we accelerate the creation of the new hydrogen economy.

“The building’s sustainable standards reflect our own world-leading net zero mission to decarbonise transportation and industry in the UK and beyond, and provides the opportunity to bring together our chain of innovative businesses under one roof in the heart of Oxford.”

North Bailey House also includes a restaurant/retail unit at ground and basement levels totalling 5,996 sq ft, which is currently being offered to let as a whole or part by JLL and Savills.

Lothbury was represented by Bidwells and Savills. Ryze Hydrogen was represented by CBRE.

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