Derwent London has leased 31,100 sq ft across the fifth to eighth floors of the Featherstone Building, EC1, to global engineering consultancy Buro Happold.
The company has taken a 15-year lease with a break at year 10 – and a break at year five on level eight – and is paying a rent of £74/sq ft. The building is now 59% let by area, with only three floors remaining to be leased.
Paul Williams, chief executive of Derwent London, said: “Over the last few months, there has been a marked increase in confidence and occupier engagement with a busy start to the year. We have agreed £14.7m of new rent from high quality occupiers, which includes a substantial de-risking of 25 Baker Street two years ahead of completion. These lettings demonstrate the importance of well-designed space with strong amenity, environmental credentials and connectivity. There is good further occupier interest across our portfolio.”
Justin Phillips, partner and London office director of Buro Happold, added: “We are delighted to be taking space in The Featherstone Building, a move that reaffirms our commitment to London. The building strongly aligns with our environmental commitments and provides a place to express our design and consulting capability. With growth in mind, we will design the space for and with our employees, to foster internal and external collaboration, innovation and to be a creative and enjoyable space.”
Knight Frank and Compton are joint agents of the Featherstone Building. Derwent London and RX London acted for Buro Happold.
