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The City of London has seen a flurry of lettings at the new development, 6 Bevis Marks. The striking building, designed by Fletcher Priest, offers 160,000 sq. ft. of high end office space, in the heart of the City. The space is split over 16 floors, with those on the higher floors enjoying private terraces and a roof garden – an attractive proposition for the multitude of tenants who have taken space in the building.
AXA Real Estate and BlackRock have agreed a number of deals at 6 Bevis Marks, with over 75% of the 160,000 sq. ft. already let, or under offer. Navigator Insurance has taken 22,000 sq. ft., whilst financial firm Cardano has taken 13,000; at levels of £60 per sq. ft. and £63 per square ft. respectively.
Eugene O’Sullivan, Director at tenant acquisition specialist Morgan Pryce, believes the new development shows the strength of the current rental market in Central London,
“6 Bevis Marks is a great example of the strength of the market in Central London at the moment; the City of London is experiencing excellent take up on new developments, at high rental levels – especially for City spaces. Bevis Marks is 75% let, or under offer, a year after it was completed, showing the demand for high quality space throughout central London. With vacancy rates at critically low levels across the Capital, more and more deals are being completed off market, or before developments are completed. The value of working with agents in this market cannot be underestimated.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.