City Skyscraper Secures Latest Tenant – Now 51% Pre-Let

Skyscrapers in the City 2013

It’s not due for completion until 2014, but the City of London’s newest icon, the Cheesegrater, is already 51% pre-let, after securing its latest tenant.

Insurer Amlin has agreed to pre-let 111,000 sq ft of office space on the site, spanning floors 18 to 24, plus space on the 45th floor. They will join risk management firm Aon, who have agreed a pre-let on 190,000 sq ft of office space on the site.

Officially known as the Leadenhall Building, the Cheesegrater will provide a total of 610,000 sq ft of new Grade A office space at the heart of the City. At 736ft high, it occupies a prominent position opposite Lloyd’s of London, with views of the Gherkin, another 21st Century London landmark.

Speaking about his company’s decision to move to the Cheesegrater, Charles Philipps, Chief Executive of Amlin plc described it as “an uplifting new office” in an “unbeatable location”.

British Land are developing the building as a joint venture with Oxford Properties. Their Chief Executive, Chris Grigg, said, “This significant second letting confirms The Leadenhall Building as a world-class building. We are very pleased to be in business with a company of the standing of Amlin, a market leader in the insurance sector.”

The pre-let success of the Cheesegrater is likely to be a relief to its developers, coming at a time when several of London’s latest skyscrapers have struggled to translate admiration into lettings.

Last month saw a change in fortunes for the Shard which finally acquired its first tenant, more than six months after completion. The Pinnacle, meanwhile, is still awaiting a final decision on new designs, which will see a more modest and practical building on the site.

The Cheesegrater is proving a more popular choice among high-profile businesses. Work on the building is moving ever closer to topping out, with glazing work continuing over the next few months. The project is expected to reach completion in mid-2014.

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Author: Alec Ryan | | 0 Comments

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