INDUSTRY NEWS

Derwent London lets top two floors of Stephen St. property to AnaCap

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Derwent London plc is renting out the top two floors of its Stephen Street real estate to private equity firm AnaCap Financial Partners LLP.

AnaCap Financial Partners – European finance specialists – will be moving into the ninth and tenth floor London offices at 1-2 Stephen Street on a 10 year lease.

The space is said to be rented for £80 per sq ft, totalling £1.3 million a year for the equity firm as they move into the 16,150 sq ft offices.

Derwent secured the property in 2010, and have now successfully refurbished and let the first two phases of the building. Over 100,000 sq ft has currently been completed, accounting for just over half of the building’s office space – with companies including BrandOpus, Freud Communications and FremantleMedia also occupying the refurbished space. It was only six months after completion that such companies began occupying the office space.

The company will have rented out £7.2m worth of real estate this year once the AnaCap lease takes effect, with only £800,000 worth of rental space left.

Derwent London are also redeveloping Tottenham Court Walk into a 38,000 sq ft property, providing space for retail stores and restaurants. The refurbishment is expected to be completed by the next quarter.

By Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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