INDUSTRY NEWS

The Shard seeking office tenants

Developers of London skyscraper the Shard have started marketing its commercial space. They are looking for an anchor tenant to occupy the building’s prime grade office space, which was originally set to be occupied by Transport for London.

The Shard is located adjacent to London Bridge Station on the outskirts of the City’s financial district and is due for completion in 2012.

The total floor space is 898,000 square feet, which includes 595,000 sq ft of plush London office space. Sellar Property Group (SPG) expect the rent for the office space to be around £70 ($110) a sq ft.
Chairman of the (SPG) Irvine Sellar, expects the Shard to be fully pre-let before the official opening of the building.

“Letting will be in the mid-to late-50s (pounds per square foot) at lower levels rising to 70 (pounds) per square foot at higher levels,” commented Mr Sellar.
Companies have expressed interest in renting the London office space, including a number of leading American banks.

 

Commercial property news brought to you direct from DeVono Cresa, specialists in London commercial property.