The first floor of the Scottish Widows Investment Partnership’s 33,000 square foot building at 50 New Bond Street has been let by Apollo Real Estate, completing the development’s tenancy capacity. Apollo took the last 7,000 square feet of prime London office space, at a cost of around £62 per square foot.
The building is one of a pair owned by SWIP. An agreement to lease the 50,000 square feet in the nearby property at 14 St George Street was reached six months ago. The ten-year lease was the largest deal of its kind since 2005. Apollo will join Ralph Lauren, Atomic and Varde in their new premises.
The market for West End commercial property has remained comparatively strong in recent months, despite wider concerns about the sector. Letting the final 20 percent of New Bond Street vindicates SWIP’s strategy of buying and refurbishing exclusive properties, equipping old buildings with the latest technology and amenities.
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