British Land has announced that the office space at 7 Clarges Street, its 51,000 sq ft prime commercial development in Mayfair, is 83 per cent let, having secured terms with Capula Investment Management, Quantum Pacific and Fortress Investment Group.
Capula Investment Management will occupy 23,700 sq ft across three floors whilst US-based global investment firm Fortress has leased the fourth floor (8,200 sq ft). Both deals are for a period of ten years.
Tim Roberts, Head of Offices and Residential, British Land, said: “The interest we’ve seen in 7 Clarges Street and these transactions evidence occupiers’ continuing appetite to make long term commitments for the best buildings in London’s key financial and cultural districts.
“Securing 83 per cent occupancy at 7 Clarges Street, just four months after its launch in September, is testament to the design and quality of the workspace and the appeal of the location.”
7 Clarges Street encompasses six floors of flexible triple-aspect office space, with employees able to enjoy natural light through floor-to-ceiling windows. Located within a five-minute walk of Green Park station, 7 Clarges Street benefits from strong transport links across London, with Crossrail also due to arrive at nearby Bond Street in 2018.
7 Clarges Street is the office element of a wider mixed-use development by British Land which also includes Clarges Mayfair, a luxury residential address of 34 new homes on the edge of Green Park. Due for completion later this year, 23 apartments at Clarges Mayfair have now been sold, some at record-breaking values. The remaining 11 apartments will be marketed on completion of the development.
CBRE advised British Land on 7 Clarges Street. Simon Garfield Property advised Capula Investment Management, DeVono advised Quantum Pacific and Colliers advised Fortress.