MEPC has let two floors totalling 45,000 sq ft at Alban Gate, London Wall, EC2. The tenant is believed to be to the Long Term Credit Bank of Japan, which was displaced from Palmerston House, 55 Bishopsgate, EC2, by the recent explosion.
The 385,000-sq ft development is now nearly 75% let. Law firm Dibb Lupton Broomhead is already installed and Chemical Bank, G T Management and Banespa have all signed for space in the past nine months.
Terms of the deal have not yet emerged, but recent lettings have been based on 25-year leases, most with breaks from the fifth year, at headline rents of around £30 per sq ft with rent-free periods or incentives amounting to three years.
Jones Lang Wootton and Herring Baker Harris are the letting agents. Weatherall Green & Smith advised LTCB.
