Three new tenants have been added to the roster of real estate private equity fund Clearbell Capital’s 70,000 sq ft grade II-listed Kodak Building at 65 Kingsway in London’s Midtown district.
Media agency JAA (John Ayling & Associates) has secured 8,144 sq ft under a 10-year lease term, while digital advertising industry not-for-profit IAB UK has taken 2,761 sq ft for 10 years. On the ground floor, Japanese restaurant Omusubi has taken 1,856 sq ft, leaving 17,187 sq ft of space to be filled in the eight-storey building.
A spokeswoman for Clearbell Capital declined to say how much the trio was paying in rent for the building – constructed in 1911 as Kodak’s European headquarters – that it acquired in 2019 for an undisclosed amount. They join existing tenants Curzon, PubMatic and Reddit.
In 2023, Clearbell Capital secured £55m of financing from TIPS One, a fund managed by Tristan Capital Partners, before undertaking a refurbishment of the art deco building the following year. Amenities include bike racks, showers and lockers and a roof terrace.
Ben Tolhurst, asset management director at Clearbell Capital, said: “These lettings show the value of our investment approach. We acquired the Kodak Building when it was substantially vacant, invested in a comprehensive refurbishment with sustainability at its core and have carefully curated a complementary tenant community.
“The Kodak Building’s success demonstrates that you can honour London’s architectural heritage while delivering the modern, sustainable workplaces that tenants want.”
JAA chief executive Richard Temple said: “This relocation represents a natural progression for JAA. We’ve always punched above our weight and our new, open and dynamic space will further fuel creativity, collaboration and innovation. The Kodak Building reflects our ethos of continuous growth and trusted experience, blending old and new. It’s a space that matches the energy, talent and ambition defining the agency for today and the future.”
Clearbell Capital was represented by Knight Frank and Farebrother.
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