In a significant new West End deal, wealth managers Kleinwort Benson have signed for 50,000 square feet of office space belonging to the Scottish Widows Investment Partnership. Scottish Widows has seen a flurry of activity in its West End portfolio in recent months, but this is tipped to be one of the biggest deals in years.
Kleinwort Benson have taken the new Mayfair property for 10 years. The five story building at 14 St. George Street, plus reception and lower ground floors, has a BREEAM environmental rating of Excellent, and combines elements of old and new in its prime office space. London has seen renewed commercial property activity in recent months, and this will be seen as confirmation that the West End is still an attractive location for businesses.
Kleinwort Benson, which has 10 billion euros of assets under management, hope to move to their new property in 2011.
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