Clivedale London has achieved a rent of £150 per sq ft at 73 Brook Street, W1 – a record in Mayfair outside of a garden square location.
The company let 4,400 sq ft at its first completed project in the area to a Dubai-based business on a 10-year lease.
This letting is a continuation of records set in the West End. In September, EG data showed there had been 36 deals signed above £100 per sq ft in the area since the beginning of 2017. That was as many as there had been in the whole of 2016 and more than the previous peak of 28 in 2008.
Tarun Tyagi, chief executive of Clivedale London, said: “We are striving to set a new benchmark for development in London and there is no doubt that 73 Brook Street has achieved that.”
Clivedale has now fully let the 22,000 sq ft office and has secured 75-77 Brook Street, where construction is set to begin “imminently”.
The developers have a further three residential and hotel schemes due to complete in the next four years.
Savills and Montagu Evans acted for Clivedale.
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