GPE has struck its largest ever leasing deal, preletting the entirety of 2 Aldermanbury Square, EC2, to law firm Clifford Chance, which is moving from its headquarters in Canary Wharf to the City of London.
Clifford Chance has signed separate 20-year leases for 321,100 sq ft across the lower ground to 12th floors, at an initial rent of £77 per sq ft with 38 months free.
The leases includes break options at 15 years for the entirety of the space, and at year eight for the fourth floor and year 12 for the fifth floor. There is also an option for the firm to hand back the first to fourth floors before March 2024.
Demolition of the existing building is under way with completion of the new development expected in December 2025.
GPE chief executive Toby Courtauld said: “We are excited to be building a new home back in the City of London for one of the world’s pre-eminent law firms and we have enjoyed working with the City of London, as well as Clifford Chance, to create a best in class office building.”
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
