Allied London buys Persimmon’s Spinningfields assets

DEVELOPER Allied London has acquired Persimmon’s remaining interests at the Spinningfields Leftbank development.

The value of the deal was not disclosed but described as a “strategic eight-figure investment”.

It has bought the commercial units on the ground floor of the Leftbank residential blocks and plans to turn them into space for creative businesses under the Hello Studios brand.

Chief executive Michael Ingall said: “With landscaping, public realm and weekend attractions, including specialist markets, we are going to develop a new and different mixed use destination based on a new workspace concept.
 
“Spinningfields began to diversify its commercial offer when we developed the hugely successful Tower 12. We are now going to take this strategy several leaps forward and develop a workspace concept which is unprecedented in the city: Hello Studios.
 
“Hello Studios will bring an innovative new approach to work space design at Spinningfields, created for forward thinking businesses who understand the importance of design, amenity and inspiring environments, and who want much more than office space in the city.”

OBI Property is appointed as project and leasing advisor on the scheme.