Pearson Secures Vitality and ECI Partners as Latest 80 Strand Subtenants

Rhea-AI Summary

Pearson announces ECI Partners and Vitality as subtenants at its global headquarters on 80 Strand, London.

Positive

• Pearson secures ECI Partners and Vitality as subtenants, increasing occupancy at 80 Strand.
• The recent refurbishments at 80 Strand will foster a positive business environment and support tenant's business objectives.
• 80 Strand offers best-in-class contemporary office space with high-quality amenities and technology.

Negative

• None.

LONDON, June 14, 2023 /PRNewswire/ -- Pearson, the world's leading learning company, today announced that it has secured UK and US based private equity firm, ECI Partners ("ECI") and UK based medical insurer Vitality as subtenants at its global headquarters on 80 Strand, London. ECI will be taking c.14,000sq ft on the remainder of level 8 with Vitality acquiring c.20,000sq ft on part of level 5 within the building.

Mundy Miller, VP, Global Head of Property & Workplace, at Pearson commented: "We welcome Vitality and ECI Partners as the newest tenants of the 80 Strand family and are grateful they have selected us as their new home. The recent refurbishments we made to the building will foster a positive business environment, increase employee collaboration, and support our tenant's business objectives. 80 Strand's prime location at the heart of Covent Garden - overlooking the River Thames - offers easy access to great hotels and restaurants that makes it an ideal location to conduct business."

Since the completion of the building's refurbishment in Summer 2022, c.140,000 sq ft of the building is now let or under offer leaving c.85,000 sq ft of Grade A space available from Pearson. 80 Strand offers best-in-class contemporary office space with an emphasis on high-quality amenities and technology. Following a change in focus to a more modern, collaborative way of working, to support the flexible working needs of its employees Pearson now occupies just one floor of the building, and hopes to announce further sub-tenants in the coming months.  

The subtenancy arrangements with ECI and Vitality have been led by its joint global real estate advisors, Gryphon Property Partners and CBRE. ECI were represented by property consultancy, Carter Jonas with Vitality advised by property consultancy Gerald Eve. See more of 80 Strand via Instagram (www.instagram.com/80strand) and its website (https://80strand.london)

About Pearson
At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That's why our c.20,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world's leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn't just what we do. It's who we are. Visit us pearsonplc.com. 

About ECI Partners
ECI is a leading private equity investor, focused on offering collaborative support to management teams who pride themselves on being straightforward to deal with, we help where we believe we can add value. ECI manage funds of over £2bn and invest in growth businesses valued up to £300m, investing as either a majority or a minority investor, and since 1976 have successfully partnered with over 250 growth businesses.

About Vitality
Vitality is part of Discovery Limited, a worldwide insurer and investment manager impacting more than 30 million members in over 40 markets worldwide, across Europe, the United States, Australia, South Africa, Canada and China.   

Vitality pioneered the 'shared-value' insurance model, a unique approach based on the scientifically proven principles of behavioural economics. Through this model, Vitality helps members take a more active role in managing their own wellness, encouraging them to develop healthy long-term habits that are good for them, good for the company and good for society. The effect is positive for all stakeholders – members benefit from better health, financial rewards and additional incentives; employers benefit from healthier, more productive, and more engaged employees; and Vitality benefits from a healthier membership base.  

Contacts
Camilla Cunningham, Pearson UK-Teneo-Pearson@teneo.com
Joe Wiggins, Pearson joe.wiggins@pearson.com
Doyel Maitra , Vitality Doyel.Maitra@Vitality.co.uk  
Chloe James, ECI Partners chloe.james@ecipartners.com

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SOURCE Pearson

FAQ

Who are the new subtenants at Pearson's global headquarters on 80 Strand, London?

The new subtenants are ECI Partners and Vitality.

What is the current occupancy status of 80 Strand?

Approximately 140,000 sq ft of the building is now let or under offer, leaving 85,000 sq ft of Grade A space available.

Who represented ECI and Vitality in the subtenancy arrangements?

ECI was represented by property consultancy Carter Jonas, and Vitality was advised by property consultancy Gerald Eve.

What does 80 Strand offer in terms of office space?

80 Strand offers best-in-class contemporary office space with high-quality amenities and technology.