International telecoms firm Lebara Group is searching for a new 80,000 sq ft London HQ to accommodate the firm’s rapid growth and avoid soaring rents.
The firm is considering options on the City fringes and in Docklands in a potential move away from 25 Copthall Avenue, EC2, where it pays £32 per sq ft for 45,000 sq ft.
While Lebara will consider alternatives in the City it is expected to be pushed further afield as prices continue to rise, with rents for non-tower space now exceeding £70 per sq ft in the best developments.
Standard Life Investments recently agreed terms to lease the top two floors, totalling around 10,000 sq ft, of 100 Cheapside, EC2, to the Ashtead Group at a blended rate equating to roughly £75 per sq ft.
Orchard Street has also secured a rent of £72.50 per sq ft for the trophy seventh floor of its 125 Wood Street scheme, also EC2, while law firm Penningtons is under offer to lease 40,000 sq ft on the ground to fourth floors of the building where quoting rents are £59.50 per sq ft.
Peers Partners have been instructed by Lebara.
Gryphon Property Partners and JLL advise on 125 Wood Street , BNP Paribas Real Estate and CBRE advise on 100 Cheapside.
chris.berkin@estatesgazette.com
jack.sidders@estatesgazette.com
