Land Securities has completed office lettings totalling 130,000 ft² (12,000 m²)in three deals across central London. Jimmy Choo, known for its glamorous shoes, has prelet 37,000 ft² at 123 Victoria Street, SW1 on a 10 year lease. It plans to relocate its headquarters later in the year joining other luxury global brands in Victoria including Tom Ford, Burberry, LVMH and Richemont. The refurbishment of 123 Victoria Street is due to complete in June this year when it will provide 200,000 ft² of grade-A office space in a year when only a handful of schemes is anticipated to be delivered in the West End.
At One New Change in the City, CBRE Global Investors Ltd, one of the world's largest real estate investment management firms, has taken circa 25,200 ft² on a 15 year lease with a break at year 10. The offices at One New Change are now 82% let, with occupiers including K&L Gates, CME Group, SMBC Nikko Capital Markets and Friends Life. One New Change provides 550,000 ft² over eight floors, with 60 shops and restaurants operating in 220,000 ft² and, when fully let, will house around 3,000 office workers in 330,000 ft².
Mace Group, the international construction and consultancy company, has taken all the office space at Moorgate Hall, EC2 for its new headquarters. Mace has taken 67,000 ft² on a 15 year term certain and will complete a phased move into the building by 2013 as other occupiers leave.
Robert Noel, Managing Director, London Portfolio, Land Securities, said: "We are delighted to have had such a strong start to 2012, with three occupational transactions completing just a few weeks into the New Year. Despite economic uncertainty many businesses are expanding and they are faced with increasingly limited supply."
Source: Land Securities