25 Moorgate is undergoing extensive refurbishment to provide approximately 70,000 sq ft of high quality, sustainable offices on the ground to eighth floors, along with a retail unit of 7,700 sq ft at ground and basement level. WFW has agreed a new 15-year lease for the entire office space and is expected to take occupation in summer 2026 following completion of the refurbishment and the building’s fit-out. A short distance walk from Moorgate, Liverpool Street and Bank stations, WFW’s new London home will feature a roof terrace and club space, seventh floor staff café with terraces, two connected client floors including a business lounge, 159 bicycle spaces with maintenance station and luxurious changing rooms, showers and lockers.

Barings is targeting BREEAM Outstanding, NABERS 4.5 Star rating and WELL Platinum enabled once its refurbishment is complete, with the retrofitting of the existing building in line with LETI 2030 principles. Sustainability features include reused materials, rainwater harvesting from the roof and terraces to reduce water consumption, high performance glazing that minimises solar gain, insulation that reduces the need for mechanical heating and cooling and an all-electric system generating renewable energy from rooftop solar panels.

Barings acquired the asset on behalf of its Barings Real Estate European Value-Add II (BREEVA II) fund in March 2022 and is now refurbishing the space alongside development manager LBS Properties and architects Morrow + Lorraine.

JLL and Cushman & Wakefield represented Barings. WFW was represented by Squarebrook.

Paul Smith, Director, UK Asset Management, at Barings Real Estate, said: “That a firm of the calibre of Watson Farley & Williams is taking the entirety of the office space in 25 Moorgate is a testament both to the building’s quality and the WFW team’s vision for creating an exceptional experience for its colleagues and any visiting clients. 25 Moorgate, nestled in the heart of the city and benefitting from its excellent transport links and amenities, sets the standard for city centre office development and refurbishment schemes. It was a pleasure working with the team to agree this deal and look forward to welcoming WFW to its new home.”

WFW Managing Partner Lindsey Keeble commented: “We’re excited to have signed with Barings on such a fantastic new home for our 500+ people in London as their team’s vision and passion for 25 Moorgate aligns perfectly with our firm’s sustainability goals and agile working and staff wellbeing policies. I’m really looking forward to moving in, when we will also be bidding a fond farewell to 15 Appold Street which has been our home since 1992”.

Contacts
Ben Monteith/Tom Carnegie (SEC Newgate)
baringsRE@secnewgate.co.uk 

Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers.  Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $409+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions. Learn more at Barings.com.

*As of June 30, 2024