Another letting in the City of London has been confirmed by Angelo Gordon and Beltane
Beltane Asset Management and Angelo Gordon have confirmed a
letting of 122,000 sq ft to Investec on 55 Gresham Street, EC2 CoStar reveals. The
121,600 sq ft Grade A development has been leased in its entirety.
Angelo Gordon and Beltane acquired the site in 2014; which
then re-geared the head lease with the City of London Corporation and proposed
a major redevelopment plan which was designed by Fletcher Priest Architects.
The redevelopment of the building will consist of 122,000 sq
ft of prime office space across 11 floors which will be located in the centre
of the City of London‘s financial district.
Investec will be taking a 15-year lease with rent is believed
to be in the mid-£60s per sq ft.
Following completion in Q3 2018, Investec Asset Management
will relocate from its current headquarters at Woolgate Exchange and the
re-location is indicative of the firm’s commitment to serving an expanding
international client base and long-term orientation.
Investec Asset Management’s commitment to 55 Gresham Street
is representative of the general trend identified across the City of London
according to the report which states that over a third of all space currently
under construction is already pre-let or committed.
Other occupiers such as Brewin Dolphin, National Australia
Bank, Navigant and UniCredit are also looking for space in the Square Mile.
A partner at Beltane, Duncan Roe stated: “The fact that
Investec Asset Management, a distinctive global organisation, has decided to
relocate to 55 Gresham Street prior to its completion, is an endorsement of the
quality of the development. The deal also represents the area’s continued pull
for financial occupiers who remain committed to the City of London”
Mike Diana of Angelo Gordon, said: “When we purchased this
asset we thought it would suit a headquarter occupier and are pleased to see
Investec Asset Management move their business into 55 Gresham Street. London has performed very well for us as an
investment destination and we look forward to being active here for the
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