NFU Mutual has secured 3 new lettings at its newly refurbished Standbrook House office building, reports Montagu Evans.
Propco Tritax, foreign exchange specialist Argentex and auction house John Pye & Sons have all taken space at the building.
All three companies have signed rents close to the quoting rent of £85/sq ft with NFU Mutual, which completed a 12-month refurbishment in May.
David Hidderley, NFU Mutual Investment Fund asset manager, said: “Since acquiring the property in 2009, we have successfully completed an extensive renovation which has helped attract these blue chip companies. The asset’s strong performance has been in keeping with our wider property portfolio business plan.”
Prior to the refurbishment, the fifth floor was let to propco Squarestone at a rent of £72.50, which shows a 16% uplift in rental values throughout the past 12 months.
5 Old Bond Street is also home to high-end fashion brands Alexander McQueen and Tod’s Boutique on the street level and first floor.
The building’s comprehensive refurbishment included a brand new reception along with the common parts and office accommodation.
DTZ and Colliers International acted on behalf of NFU Mutual. Montagu Evans acted for John Pye & Sons and Crossland Otter Hunt acted for Argentex. Tritax represented itself.
09/08/2015 23:29 by Buildington
Standbrook House on Old Bond Street in Mayfair, London W1 - new on Buildington!
16/06/2014 13:46 by Buildington