SK Energy has become the first office tenant for a new development at 175 Oxford Street, the developers and investment firms behind the project have confirmed.
Under the terms of the deal, SK Energy will lease 3,195 sq ft of office space from Salmon Harvester and NFU Mutual for ten years. A price of £47.50 per sq ft has been agreed.
A second deal has also been finalised with Andreas Panayiotou’s Ability Group. The property company has also signed up for a ten year contract and wil pay £49.50 per sq ft.
The office building, which now comprises some 11,925 sq ft, has been completely rebuilt since it was badly damaged in a fire in 2007. Plans for its redevelopment were approved the next year.
Along with office space, 175 Oxford Street also includes some 8,500 sq ft set aside for retail use on the UK’s busiest shopping street.