Derwent London has completed its first letting at its Qube development in the West End of London.
Advertising company, Aegis Media, a subsidiary of Aegis Group, has leased the 18,837 sq ft second floor on a 15 year term, with five yearly rent reviews, at £1.1m a year, which equates to £60/sq ft and sets a record rent for Fitzrovia.
The deal also includes a 15 month rent free period.
The 100,000 sq ft scheme at 90 Whitfield Street comprises five floors of office space and 8,300 sq ft of retail space across six units fronting Tottenham Court Road.
Sushi shop signs
Sushi outlet Itsu has leased a ground-floor 1,283 sq ft retail unit on a 15 year term, with five yearly rent reviews, at £116,000 a year with a six month rent free period.
John Burns, chief executive of Derwent London, said: ‘We are in discussions with a number of parties for the remainder of the space.’
Derwent London was advised by Jones Lang LaSalle and Edward Charles. Aegis was represented by
Ashwell Rogers and Itsu was advised by Nash Bond.