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It has been reported via an interview with Paul Brundage of Oxford Properties, in Property Week, that the company is considering taking space in its own property, the Leadenhall Building, also known as the Cheesegrater.
The property is currently around 70% let, a percentage that will increase if Oxford Properties takes over space in the building. The company, which represents the property aspect of Canadian pension fund Ontario Municipal Employees Retirement System (OMERS), is currently a tenant at 6 Finsbury Square, where there are two years left to run on the lease and a predicted lack of space in relation to the company’s needs in the near future.
Oxford Properties jointly developed the Leadenhall Building with British Land, and with the building’s architect Rogers Stirk Harbour & Partners confirming that it intends to take a floor of the building, the companies really will know the building inside out. The architects will be relocating from their current site at Thames Wharf Studios in Hammersmith, where they have been for 30 years.
However, Oxford Properties have other options, such as the St James’s Market development, currently under way in the West End, a partnership between Oxford and the Crown Estate. An alternative would be Mid City Place in Midtown, owned by Oxford Properties but currently fully let.
Other Leadenhall tenants currently include Servcorp, insurance broker Aon and insurance company Amlin.
An investigation by engineering company Arup has now been completed into the fractured bolts that occurred last year at the building, and the relevant at-risk bolts are being replaced.
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.