Troubled hedge fund Peloton Partners has managed to offload its 6,000 sq ft offices at the Ingeni Building on Broadwick Street, W1, to another hedge fund.
GLC, advised by Edward Charles and Partners, has paid £700,000 to take over the stricken company’s lease at £46 per sq ft after it was forced to liquidate funds worth £1.5bn. GVA Saxon Law advised Peloton.
Elsewhere, asset manager Brevan Howard is relocating its West End HQ to London & Regional’s 560,000 sq ft 55 Baker Street, W1.
The asset manager had planned to take additional space from Grosvenor at Almack House, its current offices, but is now to lease 31,000 sq ft at the revamp of Marks & Spencer’s former HQ. It will pay around £75 per sq ft and was advised by Mellersh & Harding.
The letting follows a deal to financial company DE Shaw, represented by CB Richard Ellis, which took 23,000 sq ft at close to £80 per sq ft.
Edward Charles and Knight Frank advise L&R.
