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RE Capital, a leading real estate company renowned for its transformation of properties in Europe’s metropolitan cities, has successfully secured an agreement with a renowned automotive company to lease office space at The Ragged School as part of its Clerkenwell Lifestyle project. The world-renowned automotive brand, widely recognised for its electric vehicles, will relocate its headquarters to a prime location in central London.
The new office in central London covers an area of 18,644 square feet across eight floors and features cutting-edge interior design elements, including a ground floor courtyard area, a spacious and bright reception, integrated open plan office space, spacious staff meeting and breakout areas, and a garden roof terrace. The refurbishment has a strong focus on sustainability, achieving BREEAM Excellent certification and an EPC B rating, ensuring first-class ESG credentials. The historic Ragged School building was originally built in the Victorian era and retains much of its original charm while incorporating modern sustainable features.
RE Capital acquired the site on Vine Hill Street in 2017 and transformed it into a mixed-use development that includes a 153-bedroom affordable luxury hotel pre-leased to Ruby Hotels, nine residential units and refurbished office space. The office project is a major renovation and two-story expansion of the former school, bringing the total development area to 74,000 square feet.
The Clerkenwell Lifestyle project, which is expected to be completed by the end of this year, is just one of several design-led projects RE Capital is working on in London. The firm recently completed its Goat Yard scheme in Southwark, with its first tenant being technology company WithSecure, which takes up 10,675 sq ft. Progress is also continuing on Camden Lifestyle, another mixed-use hotel-office project linked to Camden Town’s iconic Koko nightclub, while Greycoat Stores (developed on behalf of LaSalle Investment Management) is due to be completed in the first quarter of 2024. 
Luke Dhanoa, Senior Asset Manager at RE Capital, commented on the significance of this lease: “This signing is a prime example of the fact that businesses still want to be in quality buildings with character, heritage and genuine sustainability. We often hear about the office sector being in crisis, but we firmly believe that quality real estate attracts quality tenants. The central London office market remains hugely attractive to us as we know that when we focus on the history and character of a building, tenants respond to it.”
Newman Leech, CEO of RE Capital, highlighted the importance of this lease to the company’s strategy: “Central London remains one of the most attractive places in the world to be for so many companies and the decision by such an iconic brand to lease office space in the city centre is testament to this. As such, central London offices will remain a core part of our UK strategy – alongside build-to-rent and purpose-built student accommodation – as we continue to look for new opportunities to make our mark and create places where people want to work.”
RE Capital , Clerkenwell Lifestyle Project , Central London Offices , Leasing , Iconic Car Brands , Sustainability , Ragged School , Repurposing Property , Luke Dhanoa , Newman Leech .
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