Den Danske Bank has assigned its lease on the 7,250-sq ft third floor at 8 Bishopsgate, EC2, to the superior landlord, Deutsche Bank. The passing rent equated to £57.24 per sq ft with rates payable of about £22 per sq ft and a £12 per sq ft service charge. The assignment was subject to Den Danske agreeing a reverse premium equivalent to “two years’ outgoings” — believed to be about £1m.
Den Danske was advised by Lane Fox.
Elsewhere in the City, Hyundai Securities Europe has taken 2,150 sq ft in Angel Court, EC2, at a rent equating to £41.50 per sq ft. The Korean securities house received a 12-month rent-free period on a 10-year lease with a tenant’s option to break in the fifth year.
Baker Harris Saunders and Jones Lang Wootton advised Morgan Guaranty.
Lane Fox acted for Hyundai.
