The agrees deal for new London office space


Leading UK train ticket retailer and information provider The has announced a deal that will see them take up new London office space.

The firm will let 25,300 sq ft of the property at 50 Farringdon Road; which will host 75 per cent of the company’s new London Headquarters.

The has agreed a 10-year lease for the first and second floors of the building – at a rate of £33 per sq ft.

Also included in the deal is an upward only rent review or tenant break clause to come into effect in 2016.

The building has undergone a major refurbishment and this deal will see that it produces an annual rental income of £835,000.

Chairman of Picton Property, Nicholas Thompson spoke of the closed end property investment firm’s desire to find a tenant for the remainder of the Farringdon Road building’s office space.

He commented: “We are confident of securing a tenant for the remaining 7,000 sq ft and believe this asset will provide further opportunity for income growth with significant infrastructure improvements being undertaken in the immediate vicinity.”

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