Hedge fund Marshall Wace Asset Management has struck a deal with Cadogan Estates that will set a new record rent for Sloane Square.
The financier has agreed to take around 25,000 sq ft at the 127-135 Sloane Street development, SW1, for which it will pay more than £100 per sq ft.
The 135,000 sq ft office and retail project was designed by Stiff + Trevillion, with the former Liscartan House and Granville House demolished to make way for a six-storey block.
Marshall Wace has been based on the 13th floor of Blackstone’s Adelphi Building, WC2, since 2004, where it occupies around 13,000 sq ft on a lease expiring in 2016.
Levy Real Estate said the previous headline prime office rent in the Sloane Square area was £85 per sq ft, but a dearth of large-floorplate development has forced up prices.
CBRE and Nash Bond advised the landlord.
