Three new tenants have signed up for space totalling more than 25,000 sq ft at Hines’ 1 Bartholomew Lane, EC2.
Industrial metals hedge fund RK Capital Management has signed up for 10,500 sq ft across the sixth floor and half of the lower ground floor of the building.
Integrated capital markets and advisory partnership Singer Capital is relocating from Hanover Street to take 8,100 sq ft on the fifth floor of the building.
Both tenants will pay £57.50 on 10-year leases.
US investment manager Payden & Rygel will pay £62.50 on a 10-year lease for the 7,000 sq ft eighth floor.
The trio of deals leave the ground to third floors vacant, with floors four to 10 fully occupied.
Hines bought 1 Bartholomew Lane in January this year for around £70m from Ardstone Capital Management.
It has since reduced the vacancy rate from 80% to 36% after a refurbishment and rebranding.
Alex Knapp, of Hines UK, said: “Our improved common parts, combined with the high building quality and views of the Bank of England, have made 1 Bartholomew Lane one of the most sought after properties in the City for small- to mid-sized occupiers seeking prime space.
“The building has among the highest viewing rates in the City, which we’re pleased to be converting into lettings. Since the acquisition, we have more than doubled occupancy levels. This interest, and the rents we have secured, demonstrate the flight to quality demand for best-in-class smaller scale office space, even in this challenging market.”
CBRE and Drivers Jonas Deloitte advised Hines.
jack.sidders@estatesgazette.com
