Cornerstone Real Estate Advisers has fully let 40 Gracechurch Street, EC3, having agreed to lease a floor to Hampden Capital.
Cornerstone acquired the 122,000 sq ft building in 2013 for £94m when it was 52% let.
Hampden Capital is a Lloyd’s members’ agency providing advice to private and corporate capital in Lloyd’s.
Hampden will take the fifth floor, covering 12,628 sq ft of office space on a 10-year lease at an average of £57.50 per sq ft.
Coinstruction firm ISG took the sixth floor earlier this year.
Cornerstone Europe UK asset management director Ian Mayhew said: “We acquired 40 Gracechurch Street just two years ago when only half of the building was occupied. Today we have a fully let, prime City of London office, backed by strong covenants providing high quality income. This achievement follows active asset management and smart deployment of capital which have combined to maximise the potential of the property. The team has done an immense job, delivering a great space for tenants and, at the same time, creating value for Cornerstone’s client.”
Cushman & Wakefield and GM Real Estate represented Cornerstone.
