A flurry of commercial property deals by Farebrother have demonstrated continued activity for the London office space market last July.
A total of twelve properties have seen leasing deals on approximately 30,679 sq ft of space and annual rents of over £1 million, presenting a great business year for the property firm.
The twelve leases are as follows:
- 501 sq ft of office space let to IT Barbers Ltd at 144 Fetter Lane, EC4, at an annual rent of £32,500 on a 10 year lease.
- 556 sq ft let to Personal Property Management by City of London at Temple Cambers, EC4 for an undisclosed amount on a 5 year term.
- 605 sq ft let to Mary Monson Solicitors at 193 Fleet Street, EC4 at £14.50 per sq ft on a 5 year lease.
- 670 sq ft let to Frankhams Consultancy Group at Gresham House, EC4, at £18.50 per sq ft on a 3 year term.
- 693 sq ft let to Quest Hotels Limited at 13 Great James Street, WC1, at £25.25 per sq ft on a 5 year term.
- 2,113 sq ft let to IFG Management At Boundary House, EC1, at £17.50 on a 3 year lease term.
- 3,364 sq ft let to Attheraces Holdings at 9 Kingsway, WC2 at £38.50 per sq ft on a 5 year term.
- 3,763 sq ft let to Global Ethics Ltd at the same office above at £38.70 on a 10 year lease.
- 4,242 sq ft let to Ryan Tax Services Limited at Brettenham House, WC2, at £43.50 per sq ft on a 10 year term.
- 4,470 sq ft let to Ralph Applebaum Associates at 1-5 Portpool Lane, EC1, at £18.06 per sq ft on a 10 year term.
- 4,872 sq ft let to PSD Ltd at 48 Chancery Lane, WC2 at £36.50 per sq ft on a 10 year lease term.
- 4,920 sq ft let to Assura Medical Limited at Lynton House, WC1 for £43 per sq ft on a 10 year term.
Further reports by Farebrother have shown that as opportunities for new office properties in London begin to dry up, an increasing amount of refurbished office space is being taken up.
In 2010 there has only been one office scheme to begin in the London Midtown area despite an overall take-up of over 370,000 sq ft of office space in Q1 and Q2, according to statistics.