Home News The Shard takes on new tenants

Mitie Group PLC, the leading facilities management company, will join a diverse mix of companies in the The Shard when it becomes the 31st business to move into The Shard in 2018. The company has agreed a 15-year lease to take the entirety of Level 12 (29,824 sq ft) as it brings 250 employees from three separate locations together under one roof.

Mitie’s letting at The Shard comes at a time of transformation for the business under the stewardship of its new senior management team. The move will drive cost-efficiency – as Mitie ends leases on three separate office spaces – and will strengthen collaboration across teams. Importantly, The Shard also allows Mitie to create a showcase for its Connected Workspace vision to demonstrate to customers how it can help them transform their own workspaces. Mitie was also attracted by the surrounding London Bridge area, which offers strong transport links, proximity to some of the UK’s most iconic brands and a wealth of social and cultural amenities.

Existing occupier Foresight Group, the independent infrastructure and private equity investment manager, is expanding again by over a third and has agreed to take a further 10,143 sq ft of office space on Level 18 in line with its existing lease. Foresight was one of the first office occupiers to move into The Shard in May 2014, when it relocated its headquarters from Sevenoaks in Kent to a purpose-built suite that occupied half of Level 17 (9,500 sq ft). Group Chairman Bernard Fairman coined the phrase “The Shard Effect” to explain the company’s rapid growth following its move to the building. The company doubled in size in just two years and moved to occupy the whole of Level 23 (17,710 sq ft) in October 2015.

Michael Baker, Chief Executive Officer of REM, the asset manager of The Shard, said: “Mitie will move into the last full office floorplate in the building and we are pleased to welcome our first facilities management company to the vertical city. The Shard has attracted a diverse array of occupiers and each business is a leader within its respective industry, but they share the common goals of attracting the best talent and providing employees with an inspiring space to promote wellness and boost productivity.”

“The impact of these important goals on businesses is apparent in the expansions we have witnessed at The Shard. Foresight was one of our first office occupiers and its footprint has grown by more than 75% in five years, which is astounding and we are proud to have contributed to its success. The Shard and the surrounding London Bridge neighbourhood is now a thriving community that offers a wealth of social amenities and exceptional transport links that can’t be bettered by any other part of London – it is the perfect location for an ambitious company that puts its employees first.”

Phil Bentley, Chief Executive Officer of Mitie, said: “The “Connected Workspace” is at the heart of our new strategy in Mitie – and we couldn’t find a better location than The Shard to showcase to our clients how we create tomorrow’s Connected Workspace.”

Bernard Fairman, Group Chairman of Foresight Group, said: “Our business has gone from strength to strength since we moved to The Shard in May 2014, with growth in assets under management and commensurate growth in staff levels. As we continue to expand, it was very important to the management team at Foresight to ensure all departments remain in one location to maximise the benefit of ‘The Shard Effect’.”

Foresight is one of a number of companies that have expanded since moving into offices at The Shard, including Duff & Phelps and MATCHESFASHION.COM who have also taken more space.

The Shard has played an instrumental role in the transformation of the London Bridge area, which has undergone a significant change over the last 15 years. London Bridge Station, the fourth busiest station in the UK, has received significant investment including the remodelling of the concourse to accommodate increased footfall and the creation of new connections. These improvements – which will increase capacity in peak hours by 30% and enable the station to bring 75 million passengers into the city each year – have undoubtedly increased the attractiveness of the area for businesses.

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