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One of the largest hedge funds, Brevan Howard, is rumoured to be seeking new offices in St James and it is thought by Morgan Pryce, the London commercial property agent, that the cost of leases may increase as a result. The new offices will replace their cheaper office on Baker Street, but the primary role of the move is to provide suitable office space for Brevan Howard employees who no longer want to live in Geneva. The decision to move back to London and to procure offices in St James is at least in part so that younger members of staff can enjoy living in London and embracing the nightlife.
Grade II office space in St James
Refurbishment of Grade II offices in St James’s Square has provided the new and appealing space which attracted the hedge fund and which is also being rapidly sought out by many other large firms.
“As large firms are attracted to offices in St James, it is possible that rents may rise even further. Leases could even climb closer to the level of those of offices in Mayfair,” says Tom Lax of Morgan Pryce.
It is certainly clear that as St James continues to attract the most prestigious clients it will remain one of the most popular office locations within Central London.
Morgan Pryce is 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.