Edward Charles & Partners

33 Wigmore Street

On behalf of Lazari Investments, we have let two floors in this listed building, totalling 16,000 sq ft to Allsop LLP, the independent property consultants and leading auction house.

Only the fifth floor of 9,000 square feet remains available at a quoting rent of £50 per square foot. Further information can be found at www.33wigmorestreet.co.uk

129 Wilton Road

Having been involved in the new development of 60,000 square feet at 129 Wilton Road since the old building was bought by our client, Terrace Hill, we are delighted to announce that, with the letting of the fourth floor of 8,000 square feet at a rent of £47.50 per sq ft, we have now let all floors.

Genesis Housing Group

On behalf of major Housing Association, Genesis Housing Group, Edward Charles and Partners have now concluded negotiation of the July 2009 Rent Review of their 20,685 sq ft HQ Offices at Capital House, Chapel Street, London NW1 limiting their increase in annual rent to 7.5% compared with the increase of 89% sought by the Landlord.

Derwent London

As an indicator of Landlord optimism about the Central London Office Market, Edward Charles and Partners have completed two lease surrenders in the last fortnight to take space back early from tenants for reletting; namely 7,000 sq ft at Holden House, Rathbone Place for Derwent London PLC and 4,650 sq ft at 61/65 Conduit Street for Threadneedle Property Investments. Edward Charles will be bringing these 2 floors to the market in the Autumn following refurbishment.

Met Building Update

We have now let four floors at this stylish office building, on behalf of Lazari Investments. Primesight, one of the UK’s leading outdoor advertising companies, has taken the fourth and fifth floors totalling 9,000 sq ft and join other tenants including Zenith Optimedia, GML International, Digital UK Limited and Fairways. The ninth floor remains available at a quoting rent of £49.50 psf. For further information, please visit www.metbuilding.com.

215 Great Portland Street

We have let a further floor for Amsprop at 215 Great Portland Street. The fourth floor, comprising 5,323 sq ft, has been taken by Globalclick Ltd on a 10-year lease, with a break at the fifth year, at a rent of £42.50 per sq ft, rising to £43.75 per sq ft.

215 Great Portland Street is located directly opposite Great Portland Street tube station and adjacent to the Portland Hospital. The building underwent comprehensive refurbishment in 2009 when an additional glass-walled storey was added on the sixth floor. The top two floors were let in April to Computer Future Solutions and another floor is currently under offer leaving just two floors to let. The ground floor is let to Pizza Express.

242 Marylebone Road

HCA have taken an additional 7,300 sq ft at 242 Marylebone Road, to add to their 12,500 sq ft. The hospital group have signed up on a 7 year lease at a commencing rental of £26.50 per sq ft.
 
This was closely followed by a letting to LF Europe, the rapidly expanding retail and distribution business. They have taken the entire second floor totalling 20,000 sq ft for a term of 10 years.
 
The remaining 65,000 sq ft is all under offer to various tenants.

2 Kensington Square, London W8

Acting on behalf of CBS, we have let four floors of this five-storey courtyard building, located behind Kensington High Street, as follows:
 
3rd floor to MMC Limited - 1,690 sq ft
2nd floord to The Mind Gym Ltd - 4,599 sq ft
1st floor to The Communications Store Ltd - 6,310 sq ft
Lower Ground to City Axis Ltd - 4,012 sq ft
 
The ground floor, comprising 4,882 sq ft remains available. Quoting rent is £35.00 per sq ft pax on a new sub-lease with on-site car parking.

184-192 Drummond Street, London NW1

Acting on behalf of Threadneedle we have now let the remaining 16,500 sq ft in this refurbished former warehouse close to Euston Station and Warren Street.

On the fourth floor The National Union of Students has taken 6,771 sq ft on a 5-year lease with a 3-year break and 13 months rent free at a rent of £25.50 per sq ft.

On the second floor fashion company, John Adam Ltd, has taken 6,764 sq ft on a 10-year lease at a rent of £26.50 per sq ft with 18 months rent free as well as 3,000 sq ft on the ground floor. 

101 New Cavendish Street

Cossette, the international communications firm, advised by Edward Charles & Partners, have acquired 45,000 sq ft in the new building at 101 New Cavendish Street.  A 10 year lease was taken at a rent of £32.50 psf.

60 Charlotte Street, W1 - Update

On behalf of Premier Property Group, we have now let over 30,000 sq ft at this comprehensively refurbished building in the heart of Fitzrovia. Only 1 floor is now available. Tenants include The British Olympic Association, Lionsgate Films and American advertising group, WB Doner. Please visit www.60charlottestreet.com for further information.

Lumina House, 87-89 New Bond Street, W1

Acting on behalf of accountants, SRLV, we have acquired the top floor, comprising 7,627 sq ft, at Lumina House in New Bond Street as an assignment of the original lease from the administrators of Kaupthing. The lease, which runs until May 2017, has a tenant only break in May 2014 and the passing rent is £58 per sq ft. A reverse premium of £700,000 was paid to SRLV.

The last occupier of the floor was Baugur, the now bust Icelandic retail business whose massive expansion was funded by Kaupthing.

Phoenix Brewery sold on behalf of Chrysalis Group Plc - 10 Bramley Road, London W10

Leading independent music publisher, Chrysalis Group plc, has sold this 35,000-sq ft freehold Victorian brewery to Cubemaker Partnership for £6.8m. Chrysalis, which has occupied the building since 1990, has entered into a 5-year lease for part of the building. Cubemaker plans to refurbish the building. Eddie Lesley advised Chrysalis.

60% (21,800 sq ft) let at Great Portland Estates plc’s - 52/56 Bermondsey Street, London SE1 3UD www.woolyard.co.uk

Acting on behalf of Great Portland Estates plc (GPE) and jointly with EA Shaw, Edward Charles & Partners have let 14,100 sq ft on the first to third floors at Woolyard to Opus Trust Group Limited on a 20-year lease at a rent of £395,000 per annum. Opus will share occupation with The National Youth Theatre of Great Britain, The London Wildlife Trust, H&H Bancroft Wines and IdeasTap.

Other recent lettings at Woolyard include 1,400 sq ft to Nedstat, 3,900 sq ft to Peverel OM, 1,900 sq ft to Rovi Europe and 450 sq ft to Pure White Creative at rents of between £28 – 29.50 per sq ft.

Jamie Shuttle is the contact at Edward Charles & Partners.

40 Grosvenor Place, London SW1 - Sub-letting for Capital International

Acting as sole letting agents for fund managers, Capital International, Edward Charles & Partners have sublet the whole of the third floor (17,150 sq ft) at 40 Grosvenor Place, SW1 to global technology group, Invensys Plc, on a ten year lease at a rent of £52.50 per sq ft. 

Record fortnight for Tony Parrack

March was an excellent month for Edward Charles partner, Tony Parrack, whose longstanding advertising agency client, Bartle Bogle Hegarty, signed a lease renewal on its 60,000-sq ft building in Kingly Street after two years of negotiations. A rental saving of almost 20% was achieved as well as a substantial rent-free period.

In addition, Tony acquired 10,000 sq ft at 12 St James’s Square for Garner Norman Broadbent while simultaneously disposing of their building in Derby Street; a lease renewal was agreed for Cut & Run for its 5,000-sq ft building in Wardour Street; two deals, totaling 8,000 sq ft, were signed for The Crown Estate in Lower Regent Street and, in two separate transactions, terms were agreed on 24,000 sq ft and 8,000 sq ft at 129 Wilton Road.

Tony also received instructions on a 40,000-sq ft acquisition and on 10,000 sq ft of overflow space. Details to follow.

Amsprop lets first two floors of its Great Portland Street scheme

On behalf of Amsprop we have secured their first tenants totaling 8,540 sq ft at their flagship development, 215 Great Portland Street, London, W1. Computer Futures, a subsidiary of S3 Plc, the international executive recruitment company, have taken the entire fifth and sixth floors for a term of 11 years with an option to break after 5½.  The tenant paid  the quoting rent of £47.50 psf for the space.

The building was substantially refurbished by award winning architects, Morey Smith, and approximately 21,000 sq ft remains available

Daniel Sugar, Managing Director of Amsprop said, “We are delighted to welcome Computer Futures to the building.  We are proud of the development and look forward to announcing further lettings shortly”.

89 Albert Embankment

Comic Relief, advised by David Fryman have acquired 20,000 sq ft on the 1st Floor of 89 Albert Embankment taking their occupation in the building to 26,500 sq ft.  A major refurbishment, substantially funded by the landlord, commences on 25th March.

20 St James's Street

The 7th Floor tenant Consulta Ltd have committed to another 5 years in the building from June 2010.  Edward Charles Partner, Andrew Okin, is offering the 2 final floors of 6,020 sq ft and 4,120 sq ft on new leases.  David Fryman and Andrew Okin advise owner IVG.

33 Grosvenor Place

We have let the entire second floor of 30,000 sq ft on behalf of Capital International, one of the worlds leading fund managers, to Mirabaud Securities. Mirabaud having taken an assignment of our clients lease expiring in June 2016 at a passing rent of £47.50 per sq ft.

This is the largest single letting in the Victoria area for the last 12 months.
 

Converse UK Headquarters

Converse, part of the Nike stable of retail businesses, have taken two floors at the Charlotte Building, Gresse Street, W1.  Edward Charles & Partners advised on the acquisition.

www.charlottebuildingw1.com

Converse will occupy the 2nd and 3rd floors comprising 14,866 sq ft.  They took a 10 year lease with a tenant break option after the 5th year.

The floors will become state of the art showrooms and marketing offices.  They will be ready for occupation by June 2010.

25 Berkeley Square, W1

Aquisition of the substantially refurbished entire 5th floor at Cadbury's former HQ in Berkeley Square on behalf of Earlcrown, totalling 5,800 sq ft

Canal Building, Portobello Dock

We are delighted to announce the letting of the entire Canal Building totaling 24,2710 sq ft to Innocent Drinks.  This takes the total lettings in this Derwent London urban regeneration scheme to over 40,000 sq ft.  Only two units of 1,240 – 4,500 sq ft remain available.  See www.portobellodock.com.