Exclusive News Articles

Two new tenants take space at Angel Court’s new development

Stanhope and real estate development partner Mitsui Fudosan have completed two further lettings at their newly-developed City of London office scheme. This will bring the new scheme, Angel Court, to 50% let. Investment consultancy Redington, and Members’ Club, The Clubhouse are the latest and most recent occupiers to sign up at the 300,000 sq ft building, which completed in February this year.

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City acquisitions show foreign investors taking development risks.

Brexit has brought uncertainty and doubt to British society, but for foreign investors, it is offering an array of opportunities. Many City and West End office buildings have been bought by Chinese investors, while a private Hong Kong investor has acquired an office building in the City of London from Legal & General for £32.4 million. The family office acquired the 43,382 sq ft Garden House, which is located close to the Bank of England. The building appreciates a yield play of approximately 5%.

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Wood Wharf

For a long time, Canary Wharf has been considered a corporate-only zone. Once you leave the tube station, you are instantly immersed in a sea of grey and blue suits. This has been off-putting for creative companies, as having an office here would be the wrong look for their firm, which is unfortunate, because the price point for office space on the wharf and docklands is lower than the city’s average.

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Dunn’s Hat Factory sold

Dunn & Co was founded in 1997 by George Arthur Dunn, who started selling hats in Birmingham. 40 years later, the company had 200 hat shops and as many franchises in other stores. The Dunn’s Hat Factory on Kentish Town Road, Camden, was one of several factories used to build the hats distributed across the country.

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Jermyn Street

The rise in demand for serviced offices is frequently discussed, and both seen as a reaction to the uncertainty caused by Brexit and the new and improved options available with companies like WeWork entering the market. Unfortunately, this popular office solution tends to come with a hefty price tag that not all occupiers can afford.

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Office take-up in Central London on the up over 10 year period

Take-up of office space in Central London has increased by 30% to £3.3m sq ft in Q2 of 2017 – circa 6% above the 10-year average. Demand and take-up has been consistent across Central London, with take-up in the City, West End and Southbank increasing. Co-working providers have also been instrumental in the growth in take-up, with two of the largest deals coming from American giant, WeWork; 283,500 sq ft pre-let at 2 Southbank Place, alongside the 141,200 sq ft letting of 125 Shaftesbury Avenue.

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London & Capital – 2 Fitzroy Place

Global wealth asset manager London & Capital has been signed by Aviva Investors and Ashby Capital to let the second floor at 2 Fitzroy Place, part of their mixed–use development in London’s busy Fitzrovia. The company has taken a 10-year lease to occupy 12,866 sq ft at the scheme, and is believed to be paying £79.50 per sq ft. The deal leaves just one office floor with space unlet – 12,866 sq ft on the fourth floor, which has a quoting rent of £85 per sq ft.

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