Media & Insights

Landsec fully lets office space at Lucent, W1

24 January 2024

Landsec has let the final floor of office space at Lucent, its landmark scheme located directly behind the iconic Piccadilly Lights. Today’s announcement means that office space in Lucent is fully let as demand for Grade A space grows.

Global multi-strategy hedge fund manager, Verition Fund Management, will occupy the third floor of Lucent, consolidating the offices of its UK arm into a new London headquarters. Demand for well-connected, amenity rich space is rising across London but is especially competitive in the West End. Landsec’s existing portfolio in the area is effectively fully let with rents ahead of valuer’s assumptions.

Lucent is located behind the iconic Piccadilly Lights where the vibrancy of Soho, Mayfair and St. James’s meet. It combines best-in-class offices with new retail, hospitality and residential spaces across 144,000 sq ft. Lucent has been designed to respond to growing customer demand for workplaces that support wellbeing, have access to amenities and connect people to nature. Featuring 20 outdoor terraces, 600 species of plants and with direct access to a world class retail and hospitality scene on its doorstep, Lucent is a landmark offering in the West End.

Alongside traditional blank canvas office space, Lucent will also be home to Myo Piccadilly, the latest addition to Landsec’s flexible office portfolio. Fit out is now underway following success in Liverpool Street and Victoria Street.

Oliver Knight, Head of Workplace at Landsec said: “The demand for space at Lucent highlights how competitive the market for Grade A office space is in Central London. Prime spaces, those with sustainability, wellbeing and amenities baked in, continue to fetch a premium, especially in the West End where supply is limited.

“Businesses recognise that having a high-quality office in the best location can act as a tool to attract and retain talent and help further embed company culture.”

Josh Goldstein, President at Verition said: “Our people are key to our success. Occupying a modern workspace which contributes positively to productivity and quality of life was a key driver for us when selecting a new office. Moving into the heart of the West End gives us access to a world leading hospitality and leisure scene as well as quick transport links, which we know are important for our employees.”

Lucent was designed by architects Fletcher Priest and construction was led by Wates. The agents for the scheme are CBRE and Cushman & Wakefield.