LONDON – Hines, the global real estate investment, development, and property manager, on behalf of its Hines European Value Fund 2 (HEVF 2), has pre-leased 14,250 square feet of office space across three floors at ‘The Burlian’ in Mayfair, Hines’ flagship mixed-use office and retail development.
The building was acquired by HEVF 2 in February 2020 and is designed by the award-winning Orms Architects. Hines is currently undertaking a comprehensive refurbishment and regeneration of the project situated in a super-prime location on Dering Street delivering a total of c.33,000 square feet of retail and office accommodation. The office space includes brand new end of trip facilities incorporating 118 cycle spaces for occupiers, lockers, high-end shower and changing facilities and 2,260 square feet of amenity space with fitted seating and landscaped planters on the eighth floor terrace with fantastic views across Mayfair.
Hines’ sustainable approach to redevelopment will result in a 75% retention of the former buildings structure outperforming embodied carbon of a typical new-build development by 30%1. Upon expected completion in Q3 2023, following topping-out in February, the scheme plans to target BREEAM ‘Outstanding’ and SmartScore ‘Platinum’ accreditations.
Jake Walsh, managing director at Hines UK, commented: “We are delighted to have pre-leased three floors of the development to an established Asian multinational occupier ahead of expected completion in the third quarter of this year. This is testament to the quality of the office space being delivered with best-in-class amenity provision and strong ESG credentials in a prime Mayfair location."
Hines was advised by Edward Charles & Partners and Knight Frank. Summit Property Advisors acted for the tenant.
1 Data provided by Sweco, Europe’s leading architecture and engineering consultancy company, established in 14 countries
Hines is a global real estate investment, development, and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 28 countries. We manage a $92.3B portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 634 properties totaling over 225 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 17 cities as well as a presence in 79 cities in 14 countries. Hines oversees investment assets under management valued at approximately €25.3 billion and provides third-party property-level services totaling 4.7 million square meters in Europe, in Austria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2022.
About HEVF 2
HEVF 2 is the second closed-ended, Luxembourg-based investment fund in the HEVF series with the objective to secure and invest in value-add commercial real estate throughout Europe on behalf of institutional investors. HEVF 2 was initially launched in December 2019 and has effectively been allocated so far to 13 separate investments across the residential, logistics and office sectors.
Data as of Dec 2022