The Office Group buys Midtown building Chancery House

The acquisition of the 150,000 sq ft building brings TOG’s portfolio to 51 assets, totalling more than 2.1m sq ft.

The deal follows the group’s acquisition of York House in Kings Cross, which opened earlier this month at full capacity.

TOG, which is majority owned by Blackstone, will use the Chancery House as its flagship property.

Olly Olson, co-chief executive and founder of TOG, said: “Fuelled by our desire to reimagine and improve the way people work, Chancery House gives us the perfect opportunity to add another unique property to our portfolio; providing amenities, including a gym, cinema, café and gardens and productive ways to work for our new and existing members.

“The market continues to evolve, with flexible workspace growing greater market share. The benefits of flexible office space improve productivity dramatically, with growing and mature businesses becoming increasingly aware of the advantages in attracting and retaining employees.”

Source: Property Week - Emma Shone - Tue 15 October 2019