In a big success story for Croydon, M&G have attracted Italian owned, new wave energy company Green Network from central London to Renaissance.
Taking all of the vacant space left available, Green Network will occupy the entirety of the third floor as well as the ground floor south, in total taking 28,845 sq ft in the building on Dingwall Road.
This is a high note for Croydon with 150 new jobs being created to add to the staff move by Green Network from Paternoster Square.
In the process, Croydon Council worked collaboratively to encourage the move by offering a first year saving of rates as an incentive and enabled the ground floor to be occupied completely as B1 offices.
Renaissance was developed in 2013 by Abstract Securities to provide 100,000 sq ft of Grade A space over five floors with lettings to Mott MacDonald and Pensions Protection Forum just after practical completion, at which point, M&G bought the building as an investment and completed the letting programme.
The recent vacancy in the building enabled the fund to upgrade the reception area and to achieve an improved investment value.
Agents for Green Network were the London Property Partnership and joint letting agents advising M&G were Sinclair Clark and Knight Frank.
“This is a good news story for Croydon as a whole in attracting a central London occupier to the town, as well as a notable example of a wise investment purchase on the part of M&G into an office investment which has exceeded expectations.” said Vanessa Clark, principal of Sinclair Clark.
Green Network showed their commitment to the town by sponsoring the launch of the fourth annual Croydon Business Excellence Awards at the end of last month.
Pietro Di Maria, Chief Commercial Officer, said: “We hope we are going to integrate with the Croydon community from both a social and a business perspective. We also hope that the bill you receive in the coming months will be from Green Network Energy.
“Our company is investing a lot of money to ensure that our UK customers not only get competitive prices, but also the best customer service. Our motto is ‘our customers are our family’ and we hope that you, as our potential customers, will be part of this family, and for us to be part of the Croydon family and its business community.”