London office rents have reached new highs after it was confirmed that the family office of Helly Nahmad, a prominent Art dealer – specifically with regards to Picasso, has agreed to take 3,000 sq. ft. of space in 8 St James’ Square for more than £185 per square foot. This represents an increase of around £45 per square foot on the previous rental set in 2007 by Permal Investment Management who secured 12 St James’s Square at £140 psf.