West End occupier MTR Corporation has chosen a City of London office to accommodate expansion plans.
Hong Kong-headquartered train company MTR, advised by DeVono, has signed a 10-year lease for circa 19,000 sq ft on floors five and six at 63 St Mary Axe, EC3.
A rent of around £50 per sq ft has been agreed.
The firm’s presence in the capital will more than double in size. It will retain smaller offices in Haymarket, SW1.
The expansion follows Transport for London announcing in July that MTR Crossrail had won the £1.4bn contract to run the new Crossrail service through London from 2018.
Moving to the City will allow the firm to avoid hefty office rent rises expected in Haymarket, where deals in excess of £100 per sq ft are in the pipeline.
Occupiers to leave the West End recently include law firm Howard Kennedy, which confirmed in May that it would relocate from W1 to St Martins’ 1 London Bridge, SE1.
JLL and Knight Frank are letting agents on 63 St Mary Axe for Moorevale and Rockspring.
