CANARY WHARF GROUP’S ACCELERATOR MODEL YIELDS FIRST HOME-GROWN TECH TENANT IN LESS THAN A YEAR
Letting to Pirean demonstrates new route to office occupation
Canary Wharf Group plc today announced its first “home grown” tenant, endorsing its innovative strategy to diversify by nurturing growing technology companies to become fully-fledged occupiers at Canary Wharf.
Pirean, a graduate of the Group’s Level39 technology accelerator and also its High Growth Space, has signed a five-year lease on 2,259 sq ft on the 34th floor of One Canada Square. The move will see Pirean relocate all of its operations to Canary Wharf, from both the High Growth Space and premises in Hampshire.
Pirean became a member of Level39 in June 2013, benefitting from the support and mentoring offered by the Level39 community, and by October had expanded into larger premises at Canary Wharf Group’s High Growth Space on the 42nd floor of One Canada Square. They have now become fully-fledged Canary Wharf tenants, joining a growing, 7,000-strong community of technology professionals in what is becoming a recognised tech cluster.
Level39 was established by Canary Wharf Group plc in March 2013 to offer growing tech businesses unrivalled access to office, event and social facilities, plus introductions to potential new customers, partners, mentors, talent and investors. It is the largest technology accelerator of its kind in Europe and has become London’s predominant community for financial technology innovation and is growing as a centre for retail and future cities technology.
Pirean is a fast-growing Identity and Access Management (IAM) company, providing secure access to on-premise, mobile or cloud-based applications for users’ employees, customers or partners.
Eric Van der Kleij, Head of Level39, said:
“This is an entirely new model for property occupation, and it all started at Level39. It has always been our intention to help high-potential tech companies grow by providing them with the tools and environmental factors that they need to expand. For Pirean to convert from ‘member’ to ‘tenant’ before Level39’s first anniversary is a testament to what we’re doing here, and bodes well for the future of Canary Wharf’s technology community. We’d also like to wish every success to Pirean!”
Stuart Wilson, Chief Executive of Pirean, said:
“Canary Wharf Group enabled us to grow our London presence from scratch, providing the flexibility and support that we needed during a period of rapid growth and expansion. Level39 provided an excellent environment for creativity and collaboration – and it’s an important part of the infrastructure that we are looking forward to benefiting from as tenants of Canary Wharf.”
Canary Wharf Group plc has provided Pirean a flexible exit on their existing premises in the High Growth Space to minimize their double overheads.