Derwent London secures pre-let at the Charlotte Building
14 Oct 2009
Derwent London has secured a 13,093 sq ft pre-let at the Charlotte Building, 17 Gresse Street, London, W1 to Unanimis Consulting Limited (“Unanimis”), one of London’s largest digital advertising networks.
Unanimis will take the top two floors of the seven-storey, 47,000 sq ft (4,400 sq m) Charlotte Building on a 10-year lease at £578,451 per annum. The rent on the sixth floor is £45 per sq ft and £43.50 per sq ft on the fifth floor. These levels are in line with the June valuation. The tenant has an option to break in December 2014. An initial rent free period equivalent to 12 months rent was granted with an additional 10 months if the break is not exercised. The letting is in advance of the property’s launch at the end of the month and the remaining five floors of this new contemporary building, set around a landscaped courtyard, are attracting letting interest.
The Charlotte Building together with properties in nearby Fitzrovia, are in a strategically important area of the West End for Derwent London, where its holdings total over one million sq ft. Future plans include the refurbishment and redevelopment of existing buildings and investment in local services to regenerate this improving London village.
John Burns, Chief Executive, Derwent London, said: “We are pleased to have achieved a pre-let in the Charlotte Building to Unanimis, part of Orange France Telecom. They are existing tenants of the group occupying 7,400 sq ft in a nearby property, whose lease was due to expire at the end of the year. We are delighted that they have decided the Charlotte Building meets their expansion requirements. This is also a further step in Derwent London’s programme to rejuvenate its buildings to create desirable spaces in which to live and work.”
Alex Rahaman, Operations and Finance Director, Unanimis, said: “Unanimis has been a tenant of Derwent London for several years. This latest deal is evidence of our strong relationship and is testament to Derwent London’s commitment to providing quality space to meet the needs of a cutting-edge communications group.”
Derwent London was advised by Pilcher Hershman, H2SO, and HMC. Unanimis was advised by REM Roberts.