Quality office buildings in prime central London locations are in short supply and, with the economy recovering, businesses are looking to secure their future growth plans by pre-letting space early.
Working with occupiers to meet their needs
Our 142,500 sq ft development scheme at 12/14 New Fetter Lane, EC4, occupies an island site in the heart of Midtown and London’s legal district, within walking distance of several public transport stations including the future Farringdon Crossrail station.
In May 2013, we pre-let the entire scheme to Bird & Bird, a leading international law firm, on 20 year leases, with no breaks, at an annual rent of £8.3 million. This pre-let, the Group’s largest ever letting, allowed us to commit to commencing the scheme having already signifificantly de-risked our capital commitment and to unlock the development potential of the site.
The existing buildings have now been demolished, construction has commenced and completion is scheduled for late 2015.