Geneva, February 2022 – Propreal, acting on behalf of one of its private clients, announces the signing of a lease with flexible workspace provider Fora for an office property located in Mayfair, London. The leased area amounts to 41,100 sq ft, making it among the largest lettings in the Mayfair submarket in recent months.
Locatedon one of Mayfair’s most exclusive addresses, 20 Grosvenor Street provides 39,700 sq ft office accommodation together with a 1,400 sq ft retail unit and benefits from dual aspects onto Grosvenor Street and Brook’s Mews.
Fora is a flexible workspace provider with 13 unique locations across central London. Fora has committed to net carbon zero by 2030, and will bring its sustainable approach to 20 Grosvenor Street.
Fora has pre-let the entire space to a global investment management firm and will design and deliver a sustainable, flexible workspace solution tailored to their business requirements. Fora will also manage the building which is expected to open in Q4 2022.
Marcus Siggelow, Head of Asset Management at Propreal Capital Partners said: “We are very pleased to welcome Fora as new tenant at 20 Grosvenor Street. The new tenancy will enhance the ESG credentials of the building for the long-term, by committing to a carbon neutral transition and creating a positive social impact on Mayfair and the Grosvenor Street micro-environment”
Companies involved in the transaction
The company was advised by Bryan Cave Leighton Paisner, Knight Frank and Rutsaert Legal during the process.
About Propreal Capital Partners
Propreal is an independent real estate investor and asset manager founded in 2012, with a portfolio of mixed-use, hotels, retail and residential focused projects, recognised for its strong partnerships with its investors. The company is focused on unlocking property value in markets such as Germany, Switzerland, Spain, France, Italy and the United Kingdom; targeting urban properties that are identified for their untapped potential.
About Fora
Tailored workspaces for forward thinkers, Fora is on an exciting journey to reimagine the working day. Their unique workspaces invite people and businesses to feel 'Wonderful at Work' through conscious design, a curated programme of events and a 360-degree wellness offering.
Since launching in Clerkenwell in 2017, the current Fora network consists of 14 locations across London – including Soho, Spitalfields and Borough – and Reading, with six new workspaces in the pipeline including Cambridge, Oxford and Oxford Street, growing to 20 by the end of 2022. Personalised service, dynamic spaces and enhanced technology have inspired organisations such as Sony and the British Fashion Council to make Fora their workspace home. Whether employed by large enterprises, small businesses, or start-ups, Fora Residents leverage the unique Fora experience to forge connections, feed curiosity, and ultimately feel Wonderful at Work.
