Recent demand from third sector companies such as Charities and Associations looking to upgrade to better offices has trebled in recent months.
Age UK, a new organisation formed by Help the Aged and Age Concern, recently took 57,500 square feet of office space in Tavistock Square.
The charity works to ensure older citizens are treated with respect and have access to health and social care, as well as helping them with money matters. (more…)
Legal & General are reported to have made an offer on 26 Red Lion Square, London.
The building is currently owned by an offshore investor, but Legal & General have registered their interest in the building with a £52 million offer, offering a 8.2% yield on the property.
26 Red Lion Square is currently leased to Cable and Wireless, which expires in January 2023. They in turn sub-lease most of the 107,000 office space development to The Economist Group. The current rent is £28 per sq ft, with a break in contract in 2013. This earns a net income of 34.9 million per annum. Part of the ground floor and the entire fourth to sixth floors are sub-let by Cable and Wireless to TSL Education. (more…)