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As London commercial rental prices rise, the Shard has seen a rise in 30% of tenants for its office space

27th February 2014

As London commercial rental prices rise, the Shard has seen a rise in 30% of tenants for its office space

The Shard, of which 95% is owned by the Qatar Central Bank, has now let 30% of its office space to various financial and media companies, the property manager advised recently. These include the media group, Al Jazeera, the New York-based investment bank, Duff & Phelps Corp, as well as Mathys & Squire LLP law firm. These companies combined have acquired around 170,000 square feet of office space in the skyscraper, according to Real Estate Management UK Ltd. A few more big-name tenants, such as the venture capital company Foresight Financial Group Inc. (FGFH) and South Hook Natural Gas, will be joining The Shard. 

As said by Christina Weguelin, Acquisition Surveyor here at Morgan Pryce, “Last year, there was a decline in the demand for prime office space as larger multi-corporate companies decided to place a halt on any office moves. Now as the market seems to be picking up we see larger companies becoming more active in their real estate moves, with lettings now increasing by 41% to 13.1 million square feet.”  

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. 

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