Regal Workspace, part of Regal, one of the capital’s leading privately owned mixed-use developers, has agreed a pre-letting of 63,527 sq ft – equivalent to 45% of the entire floorspace – to National Lottery operator Allwyn at The Clarendon Works, the best-in-class sustainable workplace in Watford set to open in Q3 2024.
Taking the building to close to 80% pre-let, Allwyn will occupy six floors of the Grade A speculative development in Watford, having chosen to relocate to a more modern building from its existing space on Tolpits Lane in Watford. Allwyn plans to move into its brand-new home by the spring of 2025.
The design-led office space will offer a dynamic and vibrant environment and will provide the perfect home for Allwyn to work towards the company’s overarching ambition to offer more games, attract more players, inject more excitement, create more winners, and raise more money for National Lottery-funded projects.
The new building will also help Allwyn deliver on its commitments around social value and net zero. 100% powered by renewable energy, certified by Ofgem’s Renewable Energy Guarantee of Origin (REGO) scheme, the building is also targeting BREEAM Excellent and EPC A rating, which will ensure it is one of the most energy efficient buildings in Watford with some of the lowest operational costs.
It has also been pre-certified under the WELL Standard, a global marker of buildings that promote health and wellbeing and has already achieved Active Score and WiredScore Platinum. Over the course of construction as part of its social impact strategy, Regal hosted its Regal Academy, offering practical skills training and experience to groups including military veterans and other groups furthest from employment.
The deal follows that with global tech brand Seiko Epson Corporation in February this year, which took 30,530 sq ft, as well as an agreement with YoooServ, the premium flexible offices provider, in November 2023. The latter deal will see YoooServ take 16,795 sq ft on the ground and first floors for 15 years, providing fully customisable flexible workspace with private offices, tech-led meeting rooms, curated breakout spaces and videocall booths, in addition to in-house catering and event space. YoooServ will also manage the 13,767 sq ft of amenity space and services throughout the building.
With completion expected in June 2024 and the first tenants to move in shortly after, just 21% of the building – Regal’s first standalone office development – is now available. Earlier this year, Regal launched its Regal Workspace brand to reinforce its position in the UK office market, offering construction, asset management, and occupier engagement services on behalf of its partners.
“Allwyn’s desire to enable positive social impact through its business is one that thoroughly chimes with Regal, and we’re delighted that the team has chosen The Clarendon Works. With The Clarendon Works now merely a month from completion – and with two international brands confirmed soon to call it home and many more Watford-grown entrepreneurs and businesses having the opportunity to take flexible office space with YoooServ – we look forward to completing construction, opening the doors of the building to welcome its first generation of employees, and continuing Regal’s journey in the office development market,” Paul Eden, Co-Founder of Regal, said.
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