INDUSTRY NEWS

USS leases nearly 26,000 sq ft of offices in London

The Universities Superannuation Scheme (USS) has leased almost 26,000 square feet of Fitzwilliam House at 10 St Mary Axe, Property Week has reported.

BPP Professional Education has taken 20,000 Sg ft on the ground and lower ground floors.

Its arrangement with USS is over 15 years and costs the firm up to £48 per square metre.

Andrew Pettitt, fund manager at USS, said it decided to refurbish the plot because tenants will always seek out the best commercial property.

Mr Pettitt told Property Week the building’s location is vital as it is in “the heart of the insurance sector” and has “historically been very popular with insurance businesses”.

International lawyers Sedgwick, Detert, Moran & Arnold have agreed to take 6,900 Sq ft on the sixth floor, on a ten-year contract at £40 per square metre.

Offices in London sometimes carry a premium, however they are often in a fantastic location, well served by public transport.

The St Mary Axe area of London is home to the Gherkin, designed by Norman Foster.
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