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British Land's prime Clarges Street scheme secures a trio of lettings

Property developer British Land has announced that office space at its prime development at 7 Clarges Street is now over 80% let after a trio of new lettings.

Capula Investment Management, Quantum Pacific and Fortress Investment Group have all agreed to take space at the 51,000 sq ft Mayfair development, bringing total occupancy up to 83%.

According to British Land, Capula will occupy 23,700 sq ft of space across three floors and Fortress have agreed to lease the building’s fourth floor which totals 8,200 sq ft.

Both deals are for a period of ten years, while the exact details of Quantum Pacific’s lease are yet to be revealed.

Tim Roberts, Head of Offices and Residential at British Land, commented: “The interest we’ve seen in 7 Clarges Street and these transactions evidence occupiers’ continuing appetite to make long term commitments for the best buildings in London’s key financial and cultural districts.

“Securing 83 per cent occupancy at 7 Clarges Street, just four months after its launch in September, is testament to the design and quality of the workspace and the appeal of the location.”

Located near Green Park station, 7 Clarges Street spans six floors and forms part of British Land’s mixed use development in and around Clarges Mayfair that includes 34 ‘super prime’ luxury apartments.

Pre-launch prices for the apartments at the development broke records for Mayfair property prices back in 2014, with sales representing an average capital value of £4,750 per sq ft.

British Land says that 23 of the luxury apartments have now been sold ahead of their completion later this year.

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