INDUSTRY NEWS

Schroders confirms pre-let agreement for 1 London Wall Place office

One of the UK’s longest established fund managers is set to move into a new London office after signing a pre-let agreement with the joint venture between Brookfield Office Properties and Oxford Properties.

Schroders has signed a deal on the London office at 1 London Wall Place in the biggest pre-let agreement in the City of London since 2010. It will offer 310, sq ft of office space, and is set to be occupied in its entirety by the firm.

The Brookfield-Oxford partnership will now be able to begin construction of the development once demolition of the old St Alphage House building has been completed.

Brookfield Office Properties Europe President and COO, Martin Jepson, said: “We have always believed in the long-term potential of the London office property market and of our offering at London Wall Place.

With this new pre-let agreement we can focus on the delivery of a new state of the art office building that will complement our wider existing investment and development portfolio.”

Schroders chief executive, Mike Rayner, added: “Schroders has grown substantially in recent years and 1 London Wall Place offers us a unique opportunity to consolidate all London employees under one roof, in a modern working environment and in an excellent location.”

Building work is set to begin in July 2014, with the work expected to be completed at the end of 2016.

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.