Savile Row suits Cerberus as firm signs for new offices

5 Saville Row

Private equity firm takes 21,000 sq ft as Pelham Capital pays top rent at nearby Economist Plaza building in a busy week for prime lettings in London’s West End.

Cerberus, which is well known for its acquisitions of non-performing loan portfolios, has signed a 10-year lease with rents ranging from £96/sq ft for the lower floors up to £105/sq ft for the upper floors.

It is understood that the 21,000 sq ft deal included a rent-free period of 24 months. The four-storey office block was acquired by a private investor from Kajima Properties in 2013 for £49m.

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