A trio of tenants have signed for Schroder UK Property Fund’s AMP House in Croydon, south London, taking the 120,000 sq ft building to 95% let.
Insurance broker Arthur J Gallagher has agreed a deal to lease 6,641 sq ft on the ninth floor of the 11-storey building on a 10-year lease.
Insurer Direct Line has signed for 6,641 sq ft on the seventh floor and electrical heating unit supplier Chromalox has signed for 6,000 sq ft on the second floor. Both companies have signed nine-year leases.
All three will pay rents in the region of £18 per sq ft.
The trio of deals leaves 8,000 sq ft remaining in the building, where quoting rents are now £19.50 per sq ft.
Neil Meredith, head of UK business space for Schroder UK Property Fund, said: “Much of the demand we have seen at AMP House has been driven by a lack of prime office accommodation available in the area.
“Around 1m sq ft of office space in east Croydon is being converted into residential after the planning rules were relaxed, resulting in a squeeze on high quality office space at exactly the time when the occupational market has been improving in key outer London areas.”
Savills and Stiles Harold -Williams acted for Schroder UK Property Fund; Gerald Eve advised Arthur J Gallagher; DTZ represented Direct Line.
