U and I Group PLC U+I lets 30% of 12 Hammersmith Grove to WeWork (1609P)

TIDMUAI

RNS Number : 1609P

U and I Group PLC

29 August 2017

29 August 2017

U+I lets 30 per cent of 12 Hammersmith Grove to WeWork

U+I in partnership with Aberdeen Standard Investments, today announces that WeWork, the global community for creators, is the latest company to join its community of leading brands at 12 Hammersmith Grove. WeWork has signed a lease to occupy 52,837 sq ft representing over 30% of the whole building.

This latest letting, takes 12 Hammersmith Grove to 75% let, at rental levels in line with previous guidance. Interest in the remaining 4(th) and 5(th) floors of the building is strong, with further deals expected to be announced in the short term.

Matthew Weiner, CEO, said: "Hammersmith is firmly established as a hub for ambitious brands, and 12 Hammersmith Grove has further enriched this business community. We are on track and pleased with the progress we are making, and with the calibre of occupiers that the building is attracting."

Elaine McCann, Associate Asset Manager, Aberdeen Standard Investments, commented:

"WeWork is an excellent addition to the community of leading occupiers at 12 Hammersmith Grove and further underlines the quality of the building. We look forward to announcing further lettings in due course."

Patrick Nelson, Executive Vice President of Real Estate at WeWork said:

'We have an existing 20,000 member community in London which provides us with a unique and unrivaled understanding of the requirements of start-ups and entrepreneurs, as well as growing and established corporations. We're excited to announce our expansion in West London with our latest WeWork location, in 12 Hammersmith Grove. This is our 23rd WeWork to be announced in the UK.'

Forward-funded by Aberdeen Standard Investments, 12 Hammersmith Grove provides 170,000 sq. ft. of exceptional Grade A office space over ten floors.

ENDS

For further information, please contact:

U and I Group PLC

Lucy Grimble, Head of Investor Relations

[phone]

[e-mail]

Camarco (Financial PR adviser)

Geoffrey Pelham-Lane / Tom Huddart

[phone]/4996

[e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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August 29, 2017 04:43 ET (08:43 GMT)