Octopus Energy's prelet of over 80,000 square foot of offices in the Edward Street Quarter development in Brighton is a significant letting for both the company and the town, being the largest deal in 10 years, so no wonder it topped the charts in CoStar's South East Impact Awards.
The development is the largest speculative commercial development in Brighton for 25 years, with the mixed-use scheme proposing 110,000 square feet of offices in two buildings alongside space for independent coffee shops and restaurants, and 168 homes. Octopus has taken the majority of the space in Building One, with some spill over into Building Two and is expecting to house 750 staff in the space.
About the project: The deal marks a continuing commitment from Octopus Energy to creating employment in the Brighton area, having taken space for 100 staff at Queens Road Quadrant in 2020.
What the judges said: The judges comprised: Hannah McNamara, co-founder, P-Three, Charlie Allen, head of UK real estate, Fiera Real Estate, Jonathan Mannings, founder and MD, Rare Real Estate (RARE), Keith Dowley, founding partner, DTRE, Gianluca Marcato, head of department, real estate and planning, University of Reading.
Fiera's head of UK real estate, Charlie Allen said the judges had been impressed by the "scale of the deal and its impact on Brighton".
DTRE's Keith Dowley added: "It was a brave step to spec this scheme in a difficult town historically, so the developers have been rightly rewarded, and the town has been rewarded with a significant inward investment by Octopus."
RARE's founder and managing director, Jonathan Mannings said: "The scheme has been transformational in delivering the best quality space in the town as well as a range of amenity which benefits the local community. It also demonstrates that what occupiers are looking for is not the 'cheapest deal' but value for money which helps them attract and retain the best staff in the area."
They made it happen: Nick Blevins, partner, Cushman & Wakefield; Alexandra Brooks, senior surveyor – South East office agency; Cushman & Wakefield, Paul Dart, partner, Monmouth Dean; Ludo Mackenzie, head of commercial property, Octopus Energy; Steve Eccles, director, at Socius, and Kevin Cooke, development director, Patron Capital.