Oxford Properties is to restructure CBRE’s lease for its 106,218 sq ft central London headquarters at St Martin’s Court, Paternoster Square, EC1.
The restructure has extended CBRE’s lease term to 2026, and introduced a fixed rental uplift in 2018.
CBRE has occupied the asset since 2003, and completed an extensive refurbishment in 2015.
As part of the transaction, Oxford made a capital payment to CBRE to assist in funding its refurbishment.
Henry Shearer, director-asset manager at Oxford Properties, said: “During 2015 Oxford has restructured leases across 286,000 sq ft with a wide range of occupiers including Mitsubishi and Cisco, helping occupiers to realise their corporate real estate strategies and creating value for OMERS and our joint venture partners.”
