Construction at 25 Baker Street is progressing on time and on budget, reports Derwent London in its latest Interim Results 2023.

The private residential building at 100 George Street has topped out and the super-structure of 25 Baker Street has reached level 7.

Both pre-lets at 25 Baker Street were signed substantially ahead of ERV and the commercial element is now 76% pre-let or pre-sold to an American investment management firm PIMCO – 106,100 sq ft at £103 psf on a 15-year lease (no break) in H1 to global investment bank Moelis & Company – 49,200 sq ft at £100 psf on a 15-year lease (break at year 10) on lower floors in H2.

Since the start of the year, a fixed price contract has been signed with Make One for the 30 Gloucester Place element and the agreement for the private residential component is being finalised. The mid-stage 5 embodied carbon estimate is c.600 kgCO2e/m2.

The completion date for the project is 2025.

This office-led multi-use scheme comprises 218,000 sq ft of offices, 28,000 sq ft of retail and 52,000 sq ft of residential at 100 George Street. The Courtyard retail and Gloucester Place offices have been pre-sold to The Portman Estate. There is also early solid interest in the private residential units.

For more information on the available office space at 25 Baker Street please contact CBRE or Ashwell London.

See more photos of the progress on 25 Baker Street development profile.

Photo: 25 Baker Street development on 25th July 2023.