US-based consulting firm Berkeley Research Group has agreed a deal to set up a new London office on the top floor of Greycoat and Cheyne Capital’s 8 Salisbury Square, EC4.
BRG will pay around £78.50 per sq ft on a 10-year lease for the 12,147 sq ft eighth floor, which comes with a 1,981 sq ft roof terrace.
The deal represents the first letting at the 155,000 sq ft building, which was redeveloped last year with a 35,000 sq ft extension and the addition of five roof terraces.
Average rents for new-build or refurbished offices in Midtown since 1 January 2017 are £63.77 per sq ft, while average rents for all offices in the area are £58.30, according to EG data. Top rents in the low £90s per sq ft have been achieved around the Strand and WC2 postcode area.
Greycoat and Cheyne Capital acquired 8 Salisbury Square with vacant possession from Deka Immobilien in 2014 for £66m.
BRG currently occupies around 6,000 sq ft at Landsec’s 6 New Street Square, EC4, on a lease expiring in October 2018.
BH2 and Cushman & Wakefield are joint letting agents on 8 Salisbury Square; JLL advised BRG.
To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette
