The Universities Superannuation Scheme has agreed a deal on almost 30 thousand square feet of prime office space in the City of London
Fitzwilliam House, 10 St Mary Axe in the heart of the City of London’s insurance hub, provides not only a prime office space location but a prime office space environment. The office space building has recently been refurbished to a grade A specification, which includes; air conditioning, raised floors, suspended ceilings and glass walled lifts.
Situated close to the junction of St Mary Axe and Leadenhall Street, the office space building faces Lloyds of London. The London offices of the international legal practice Sedgwick, Detert, Moran & Arnold has agreed terms on the almost 7000 square feet of the newly refurbished 6th floor office space.
Sedgwick, Detert, Moran & Arnold has reportedly signed a 10-year lease at around £40 per square foot. BPP Professional Education has agreed to pay £48 per square foot for the 15-year lease of the ground and lower ground floor office spaces.
Fund manager for the office space and industrial portfolio at Universities Superannuation Scheme, Andrew Petit said “We took a proactive decision to invest in an extensive refurbishment of Fitzwilliam House, believing that top quality occupiers would seek the best accommodation despite challenging market conditions. The location of Fitzwilliam House in the heart of the insurance sector opposite Lloyds has historically been very popular with insurance businesses, however it’s a reflection on the quality of the building that we’ve secured BPP and Sedgwick on such attractive terms.”
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