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Morgan Pryce has recently completed on 3,500 sq ft of prime space in the heart of Covent Garden, on behalf of a multi-national media company.
The space, which has recently been refurbished to a CAT A standard (fully accessible raised floors, air conditioning, concierge service, and security), was agreed on a five-year term. Morgan Pryce was able to achieve an above market rental reduction and rent deposit level, securing 11 months rent-free.
Eugene O’Sullivan, Managing Director at Morgan Pryce, believes the market is offering strong incentives for occupiers;
“Whilst there is still competition for space, we are achieving strong financial deals for our clients in most Central London locations – especially the further east we look. With the market turning in favour of tenants, and vacancy rates increasing, it is a good time to consider looking for new space.”
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.