Live Nation Entertainment has completed a deal to take 47,700 sq ft of offices at Ten Four Pentonville Road, N1, for its subsidiary Ticketmaster.
It entered negotiations with the landlord, Derwent London, last month, and has now signed for the whole of 4 Pentonville Road, and the upper five floors of 10 Pentonville Road under a 12-year lease with no breaks.
The firm will pay £1.9m pa, based on £45 per sq ft on the top floor and £42.50 per sq ft on a typical mid-level floor, with a rent-free period of 30 months. There are upward-only rent reviews after five and 10 years, with a minimum uplift to £2m after five years.
John Burns, chief executive of Derwent London, said: “We are pleased to welcome Ticketmaster to our newly regenerated offices, another leading business taking space in this rapidly improving, vibrant location.”
Ticketmaster was represented by Glinsman Weller; Hatton Real Estate and Jones Lang LaSalle acted for Derwent London.
joanna.bourke@estatesgazette.com
