Capita is under offer to lease the whole of Derwent London’s Copyright Building on Berners Street, W1.
The outsourcing giant has agreed terms to prelet the entire 85,000 sq ft office element of the new development at 25-33 Berners Street.
No rents are yet being quoted on the Piercy & Co-designed building, on which work started in the first half of 2015.
However, prime office rents in the area come in at around £80 per sq ft, according to local agents.
Derwent signed a new 127-year headlease for the site, which was occupied previously by three office buildings, including the 1950s Seifert & Partners-designed Copyright House, last year.
Freeholder the Berners-Allsop Estate will receive a 12.5% ground rent as a well as a share of profits above a 20% return.
In addition to the office space, the scheme includes 20,000 sq ft of shops.
In Derwent’s most recent set of results, the company estimated the rental value of the scheme to be £6.8m and predicted it would complete in the second half of next year.
The West End market has not traditionally seen tenants prelet buildings; however, the severe shortage of available space over the past two years has prompted a string of occupiers such as Estée Lauder and Facebook to commit early.
Deloitte Real Estate, Strutt & Parker and HMC are leasing agents on the building.
To send feedback, email jack.sidders@estatesgazette.com or tweet @JackSidders or @estatesgazette
