Flirt With Luck

There is a lot of news regarding the office market in the City of London. Stephenson Harwood has recently finalised a deal to become the occupant of 1 Finsbury Circus. The owner of this property is Hermes Real Estate.

The terms of the deal struck by Stephenson Harwood seem quite impressive. The property has been taken up for £35 per sq ft with a lease of more than fifteen years. Within this period, four years will be rent free. The first review for rent rise will be after a period of five years subsequent to which there may be a slight increase in the rent. This deal involving Hermes and Stephen Harwood was advised by CB Richard Ellis and King Sturge.

At present in the City of London negotiations are on for nearly 700,000sq. ft of desk space to rent to be taken up by businesses.

Another deal to be added to the growing list is that involving Macquarie, an Australian bank. The bank will take up 217, 000 sq. ft in the British Land Ropemaker scheme, out of the total area rented by Macquarie 600,000 sq. ft is located at Ropemaker Street near the City Pont. This deal was also struck by CB Richard Ellis

A property owned by the Exemplar Developments and Canary Wharf Group, i.e. Drapers Gardens is being taken up by Black rock Investment. The Management of the company recently announced their intention to acquire 292, 418 sq ft of the Drapers Gardens area. This is a long term deal with a lease of twenty years at the rate of £49 per sq. ft. The first three years will be rent free. The rent will be reviewed after a period of five years and the increase will be within the limits of 2.5% to 4.5%.

This entry was posted on Tuesday, March 2nd, 2010 at 4:46 am and is filed under Ads + Plugs, Business News, Real Estate Infos. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.