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Morgan Pryce has recently completed a 2,700 sq ft acquisition on behalf of a digital recruitment firm in a prime City location.
The office floor, in a building which has just undergone a complete refurbishment to a Category A specification, was acquired on a brand new five-year straight lease at £61.50 per sq ft, £6.00 under the quoted rent. A rent-free period of 12 months was also achieved, representing a net effective rent of £49.20 per sq ft – an excellent deal in the current City market.
Eugene O’Sullivan, Managing Director at tenant representation specialist Morgan Pryce, believes; “The deal shows the strength of the current market. We are achieving extremely strong financial packages for our clients at the moment, especially in the City where we are driving net effective rents down with lengthy rent-free packages.”
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.