Wainbridge has agreed a deal with British Telecom for the surrender of its lease at 120 Holborn, EC1.
The telecoms firm will exit its 150,000 sq ft at Wainbridge’s property, allowing the investment company to undergo a refurbishment of the space to bring it in line with current midtown grade-A rents.
Some 20,000 sq ft of the space has been let to outsourcing firm Steria, which has taken a six-year lease paying £47.50 per sq ft.
Jonathan Hardie, head of asset management, Wainbridge, said: “These lettings represent a successful outcome for our asset management strategy for 120 Holborn, and provide a bedrock of income while we undertake the refurbishment of the remaining office space and drive forward rents on the retail element.”
Telereal Trillium acted for British Telecom; Montagu Evans represented Wainbridge; Vail Williams advised Steria.
joanna.bourke@estatesgazette.com
