Mitsui Fudosan UK and Stanhope have confirmed that global insurer Zurich has taken a prelet of their 70 Mark Lane, EC3, development.
London-based employees of global insurance company will occupy the building’s 7th to 12th floors comprising a total of 68,170 sq ft. The lease, which will commence in March 2015, will last 15 years.
Zurich’s rent is to range from around £65 per sq ft in the middle of the building to as high as £70 per sq ft for the 11th floor, which boasts its own roof terrace.
The global firm is the second insurer to sign a lease after Miller Insurance Services, who agreed to take the lower six floors of the development in October 2012.
Only the top three floors now remain to be let in the development, which sits adjacent to Fenchurch street station, comprising 170,000 sq ft of offices over 15 floors and four shops on the ground floor.
The Bennetts Associates-designed scheme has achieved a BREEAM “Excellent” rating and is due for completion in December.
Hideto Yamada, managing director of Mitsui Fudosan (UK) Ltd, said: “We remain committed over the long term to sourcing, investing in and developing high-quality buildings as part of our London-wide portfolio.”
David Camp, chief executive of Stanhope, said: “The partnership between Mitsui Fudosan UK and Stanhope continues to go from strength to strength.”
DTZ and JLL acted for Mitsui and Stanhope; JLL represented Zurich.
