Listed wealth manager Rathbone Brothers is set to move its main London office from the heart of Mayfair to the City core, in a further sign of the impact of a West End supply shortage.
The company, established by a prominent Liverpool family in 1742, has placed under offer around 70,000 sq ft at Mitsubishi Estate Company’s 8 Finsbury Circus, EC2.
Rents in the region of £70 per sq ft have been agreed.
Rathbone Brothers will take the top four floors of the eight-storey, 160,000 sq ft redevelopment being overseen by Stanhope. The building, formerly River Plate House, boasts floorplates of around 20,000 sq ft.
It occupies the north-west corner of Finsbury Circus and will have a second entrance fronting South Place.
Rathbone Brothers, presently based at 1 Curzon Street, W1, where it pays £75 per sq ft, would be the first tenant, leaving around 80,000 sq ft available if its letting completes.
GVA is advising Rathbone Brothers; CBRE and DTZ are acting for MEC.
Listed wealth manager Rathbone Brothers is set to move its main London office from the heart of Mayfair to the City core, in a further sign of the impact of a West End supply shortage.
The company, established by a prominent Liverpool family in 1742, has placed under offer around 70,000 sq ft at Mitsubishi Estate Company’s 8 Finsbury Circus, EC2.
Rents in the region of £70 per sq ft have been agreed.
Rathbone Brothers will take the top four floors of the eight-storey, 160,000 sq ft redevelopment being overseen by Stanhope. The building, formerly River Plate House, boasts floorplates of around 20,000 sq ft.
It occupies the north-west corner of Finsbury Circus and will have a second entrance fronting South Place.
Rathbone Brothers, presently based at 1 Curzon Street, W1, where it pays £75 per sq ft, would be the first tenant, leaving around 80,000 sq ft available if its letting completes.
GVA is advising Rathbone Brothers; CBRE and DTZ are acting for MEC.
jack.sidders@estatesgazette.com
