The Qatari owners of Park House, W1, have finally secured their second office tenant, almost two years after the building’s completion.
US hedge fund Balyasny Asset Management is understood
to have gone under offer for more than 5,000 sq ft at the £500m West End block owned by REM – a joint venture between the State of Qatar, Qatar National Bank and the Sellar family.
Advised by GVA, Balyasny will pay about £85 per sq ft on a 10-year lease, and relocate from Sirosa’s 5 Stratton Street, W1, where it has a smaller office.
A deal would come just a fortnight after GVA was appointed to help CBRE and Knight Frank let the 165,500 sq ft office element of the Oxford Street building.
To date, the only office tenant in the building, completed at the end of 2012, is Elliott Advisors (UK), which signed for 22,215 sq ft in September 2013.
Last year Balyasny said it was a good time to increase some of its European asset exposures, and in December 2013 made a number of hires as part of its London expansion plans.
The 87,700 sq ft retail element of Park House is let to several high-street names, including Zara and River Island.
joanna.bourke@estatesgazette.com
