Digital marketing agency, Latitude Digital Marketing has agreed a new lease at 4 Mandarin Court in Warrington, London.
The firm took a ten-year lease agreement for 7,900 sq ft of office space, with a rent of £119,580, working out as approximately £15 per sq ft. This represents a fantastic deal for the rising rents prevalent in London.
The agency, which specialises in social media, display advertising and affiliate marketing, already owns offices in other parts of London, with clients including Britannia Hotels, Fitness First and the Independent.
The deal was advised by DTZ, with Marco Polo Asset Management acting as landlord for the London Borough of Southwark pension fund, who own the property.
Offices director at DTZ, Rob Yates, said, “We are delighted to have completed this transaction within a short timeframe, the accommodation is ideally suited to Latitude’s requirements for the medium to long term.”
He added, “This transaction demonstrates what can be achieved if the landlord, occupier and respective advisers take a pragmatic approach to issues.”
DTZ have also recently reported that according to new index, London offices and West End retail are two of three hot markets in the UK and hold a lot potential within the commercial property value index.