Minerva, the property group specialising in real estate investment and development in London has agreed two significant lettings at The Walbrook Building, London, EC4, its prime office development.
International insurance broker, Arthur J Gallagher has taken a 15 year lease on the ground floor offices and the whole of the seventh floor amounting to just over 60,000 sqft, at rents achieving £57.50 per sq ft.
In a second transaction, International Property Consultant, Jones Lang LaSalle has taken a 12 year lease on 10,500 sqft of office space on the eighth floor at a rent of £60 per sqft. The office will be used as its new City HQ.
Designed by Foster and Partners, The Walbrook Building provides 445,000 sqft of office and ancillary retail accommodation and is located just a short walk from both Bank and Cannon Street tube stations.
Tim Garnham , joint chief executive of Minerva, said:
“We are pleased to welcome Gallagher and JLL to our building. These two lettings showcase The Walbrook, demonstrating its strength as a versatile office building with contemporary design and efficient floor plates. We have now fitted out four floors to Category A standard and we are seeing some real appetite for such good quality office space.”
Commenting on the move, Arthur J. Gallagher International CEO David Ross said:
"In an exhaustive process, we looked at significant number of potential homes, but only the Walbrook Building matched our exacting requirements. It is a fantastic, flagship development that will be a fitting state-of-the-art headquarters for our growing organisation. This investment will unite a large number of our colleagues in the same key location and underscores our values of fresh-thinking, professionalism and entrepreneurial behaviour."
Neil Prime, Head of agency at JLL said:
“We are delighted to be moving our City office to such a prestigious and core HQ building”.
Deloitte acted on behalf of Arthur J Gallagher and JLL represented themselves. Knight Frank and JLL are joint letting agents on the property.
Source: Minerva 24.01.2013
