PIMCO, the global investment management company has pre-let 106,100 sq ft of office space at 25 Baker Street scheme, reports Ashwell London.

The rent for the office space on levels five to nine is £11.0m which equates to an average of £103 per sq ft.

The lease is for a 15-year term without breaks, and PIMCO has the option to expand to include level four (24,700 sq ft) which can be exercised up to 12 months prior to practical completion.

The 298,000 sq ft mixed-use scheme in Marylebone, which aims to meet industry-leading sustainability and digital standards, is now 56% pre-let.

100,000 sq ft of best-in-class offices are still available with c.24,000 sq ft floors that provide stunning workspace with natural daylight and flexibility for all occupiers to adapt to open plan or cellular layout, thanks to 360 degrees of windows.

Slaughter and May advised Derwent London.

Paul Williams, Chief Executive of Derwent London, commented:

"Over the last few months, there has been a marked increase in confidence and occupier engagement with a busy start to the year. We have agreed £14.7m of new rent from high-quality occupiers, which includes a substantial de-risking of 25 Baker Street two years ahead of completion. These lettings demonstrate the importance of well-designed space with strong amenity, environmental credentials and connectivity. There is good further occupier interest across our portfolio."

Contact Ashwell London or CBRE for more information.

Back to 25 Baker Street development profile.