Farebrother launches Rowan Asset Management’s 89,000 sq ft Aldwych House, WC2, with World Cup theme

Farebrother launches Rowan Asset Management’s 89,000 sq ft Aldwych House, WC2, with World Cup theme

15 September 2015

London-based property company, Rowan, today unveiled the redevelopment of its iconic, 168,000 sq ft Aldwych House, WC2, building in the heart of Midtown. The building was showcased with an exclusive VIP reception attended by around 150 senior property professionals, who were given a first tour of the new building by Rowan and joint letting agents, Farebrother and CBRE. On the eve of the Rugby World Cup, guests were joined over lunch by former rugby internationals Simon Shaw, Tom Shanklin, Gavin Hastings and Phil Scrivener, who entertained the audience with their insights into the tournament.

Over £30m was spent on overhauling and redeveloping this landmark building, retaining its historic 1920’s façade, whilst completely transforming its interior into modern, Cat A office space. The redevelopment encompasses:

Rowan’s CEO Nick Jacobs said: “This is a proud day for Rowan and the development team which has done a spectacular job in transforming this wonderful building.  The project has been a major undertaking, during the works Rowan stripped out some 664 tonnes of old material and plant before re-fitting (all of it recycled); the internal configuration and spacing required a complete overhaul, yet at the same time we felt a huge responsibility to do justice to the building’s heritage.

“I call Aldwych House the ‘Mothership of Midtown’ owing to its size, central Midtown location and its creation of a space to adventure from and return to.”

“From the outside, the building hasn’t changed; we’ve retained the classic, historic façade, but take a look inside and I think people will be surprised.  The reception and communal areas are bold and striking, while the flexible office space is malleable, modern and fun.”

“The building is located in a particularly vibrant area of one of London’s most buoyant markets, in Midtown.  We believe occupier interest will come from all sectors including legal, TMT and Corporate. We have purposefully kept the building under wraps while we complete the work, and are now looking forward to presenting the new space to potential new occupiers.

Rowan acquired Aldwych House in partnership with GI Partners and Taurus in December 2011.  In November 2014 the award-winning Japanese restaurant ROKA opened on the ground floor of the building.  ROKA Aldwych is currently one of the largest restaurants in Midtown, seating over 150 guests in the restaurant and bar.

Over the next two years, managed lease expiries on the lower floors of the building will lead up to a further 60,000 sq ft of office space coming to the market, phased in over 2017 and 2018.