Discount-rent site to become biggest resource in Europe

A large building in High Street Kensington, London, is being offered at discounted rent to charities in a bid to create Europe's biggest 'charity centre'.

Consultancy Charity Logistics is behind the project. The arrangement will be similar to the 150,000 sq ft centre on the Albert Embankment, which the organisation let at half-market rents in 2000 to 40 charities within three months.

The new building, Charles House, is currently occupied by the Inland Revenue, which is moving out over the next few months. Some 30,000 sq ft is available now, but the whole 300,000 sq ft building will become vacant.

Rent will be set at £15-£20 per sq ft and the lease is up for renewal in June 2010, when Charity Logistics hopes to buy the freehold. Tenancies will be given out on a first-come, first-served basis.

Chief executive George Cook envisaged the building will become "a dynamic beehive of activity": "We could have filled the Albert Embankment building twice over."

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