WSP Group has pulled out of a deal to take the whole of the office element at Ebble Developments’ 70 Chancery Lane in London’s midtown.

The construction and design company was under offer to take all of the 57,000 sq ft of office space at the Sidell-Gibson-designed building on the corner of Chancery Lane and High Holborn.

It was said to have agreed a rent of around £47.50/sq ft.

The building is being developed by Ebble which is the property company of the trustees of Lord Folkestone’s estate.

In addition to the office space, which has been redeveloped behind partially retained facades, there will be ground-floor retail and flats.

The total scheme is around 70,000 sq ft.

Deal collapse

The collapse of the deal is not thought to be related to the operations of the listed WSP Group whose share price has been steadily rising during the summer and last week closed at 827.5p a share up 30% from 635p a share in August.

Following the collapse of the deal 70 Chancery Lane is back on the market through joint letting agents BH2 and DTZ.

All parties declined to comment.

Topics