Real Estate Management (UK) Limited (REM), on behalf of the owners of 48 Pall Mall, has confirmed that Lighthouse Investment Partners, LLC, the global alternative investment management firm, has agreed a new 10-year lease to take 8,326 sq ft of space at 48 Pall Mall.
Lighthouse will relocate from nearby St Albans House and will occupy the whole of levels 2 and 3 for an undisclosed rent. It is expected to move staff into the building in the first half of 2020 once a tailored fit out of the space has been completed. With the signing of this lease, there is remaining space available on the lower ground (2,043 sq ft), ground (2,480 sq ft) and sixth floors (3,835 sq ft).
Lighthouse is a U.S.-based alternative investment manager that offers various hedge fund solutions to its clients. The firm manages in excess of USD$13 billion in assets for over 1,000 investors and employs over 110 staff globally, making them a prime addition to the mix of occupiers at 48 Pall Mall. Lighthouse also has locations in Chicago, New York, Hong Kong, Tokyo and Palm Beach Gardens, Florida.
48 Pall Mall, a 32,000 sq ft office building, was completely redeveloped and completed in 2016. The building provides nine floors of high specification office space along with three roof terraces. Situated in St. James’s, one of London’s most prestigious business districts, the area is home to a variety of office occupiers, restaurants, hotels, private members’ clubs and art galleries. It is also close to the popular shopping locations of Jermyn Street and Bond Street.
Michael Baker, CEO, REM said: “The prime location and contemporary feel of 48 Pall Mall places it as the perfect location to accommodate Lighthouse’s growth in recent years.”
Scott Perkins, Executive Managing Director at Lighthouse said: “48 Pall Mall gives us an innovative and collaborative workplace with unparalleled amenities that accommodates our growth plans in the region and allows Lighthouse to deliver an exceptional experience for our employees and clients.”
REM was advised by CBRE and Avison Young; Lighthouse was advised by Mellersh & Harding.
