US law firm Sidley Austin has selected TH Real Estate’s 60-70 St Mary Axe, EC3, for its new London HQ.
The deal will be the first letting for the 332,000 sq ft office building, also known as the Can of Ham, which is due for completion in 2018.
Sidley Austin is in exclusive talks to take 120,000 sq ft at the building, paying a rent in the high £60s. Knight Frank was instructed at the start of the year to find the firm a new 100,000 sq ft office and shortlisted AXA IM-Real Assets’ 22 Bishopsgate, EC2, before deciding on 60-70 St Mary Axe.
Sidley’s move is driven by its 2020 lease expiry at Taiwanese insurance firm Cathay Life’s Woolgate Exchange, also known as 25 Basinghall Street, EC2, where the company occupies around 95,000 sq ft on a 17-year lease.
GM Real Estate and JLL are leasing agents on 60-70 St Mary Axe.
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