Hines has secured its first letting at 1 Bartholomew Lane, EC2, signing private equity firm Gresham LLP.
Gresham will pay a prime rent for 6,000 sq ft on the top floor of the 80,000 sq ft building, understood to be £61 per sq ft.
Hines acquired the building in January of this year, on behalf of an Asian sovereign wealth firm, from Irish investor Ardstone Capital Management. At that time, the building was 70% vacant, and it has since been refurbished ahead of a re-launch in April.
Gresham joins existing tenants Korea Investment Corporation, Agricultural Bank of China and Bank of Communications.
Hines UK managing director Ross Blair said: “We recognised that the building had enormous potential to increase its value. We embraced our typical proactive approach to asset management, implementing a refurbishment programme which is now yielding considerable occupier interest. We’re pleased to have secured our first letting, and we are currently in discussions with a number of other parties. We expect to be able to announce further lettings very soon.”
Drivers Jonas Deloitte and CBRE advised on the letting on behalf of the landlord.
jack.sidders@estatesgazette.com
