Jones Lang LaSalle and CB Richard Ellis have secured letting instructions on two of British Land’s largest speculative office schemes in the City of London.
The property company has appointed Jones Lang LaSalle to let its Leadenhall building in the City of London following its decision last week to make a speculative start on the £286m 47-storey building.
Both schemes are expected to attract significant interest as the occupational market in the City picks up steam.
Last week Deutsche Bank went under offer to take 57,000 sq ft at Allen & Overy’s 10 Bishop’s Square scheme. It has agreed a 10-year lease at £50/sq ft with three months rent free. Deutsche Bank has a break at the third year and there are mutual breaks at the fifth and seventh years. The bank is taking the space as part of an expansion but still has a requirement for a further 250,000 sq ft in the City.
Law firm Paul Hastings has also signed up to take 20,000 sq ft at the same scheme on the eighth floor at a rent thought to be around £55/sq ft on a 10-year lease. Cushman & Wakefield is the letting agent. All parties refused to comment.
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