Japanese developer Matsushita is poised to do one of the largest prelets in Midtown this year.
Towers Perrin, the US management consultant, has agreed in principle to prelet up to 13,935m2 (150,000 sq ft) at Matsushita’s 29,728m2 (320,000 sq ft) MidCity Place, WC1.
The Philadelphia-based firm was also considering Frogmore’s 17,187m2 (185,000 sq ft) Aurora at 88 High Holborn, WC1, but it is understood negotiations came to nothing.
Terms of the deal at MidCity Place have not been disclosed, but it is believed the management consultant has agreed to take a 25-year lease with a break at 17 years, and pay rent of around £409 per m2(£38 per sq ft).
Matsushita’s European development manager, Tim Mockett, said: “Nothing is in solicitor’s hands yet, but we hope to agree a deal later this year.”
Jones Lang LaSalle is acting for both parties.
