Angelo Gordon and Beltane Asset Management have secured the pre-completion letting of 55 Gresham Street, EC2 to Investec Asset Management. The deal will see the 121,600 sq ft Grade A development leased in its entirety to Investec Asset Management.
The site was acquired by Angelo Gordon and Beltane in 2014, who then re-geared the head lease with the City of London Corporation and secured planning consent for a major redevelopment designed by Fletcher Priest Architects. The comprehensive redevelopment of the building will deliver 121,600 sq ft of prime office space across 11 floors, located in the centre of the City of London’s financial district.
Following completion in Q3 2018, Investec Asset Management will move from its current base at Woolgate Exchange and is indicative of the firm’s commitment to serving an expanding international client base and long-term orientation.
Investec Asset Management’s commitment to 55 Gresham Street prior to its completion is representative of the general trend identified across the City of London according to JLL, who cited that over a third of all space currently under construction is already committed to.
Duncan Roe, partner at Beltane, said: “The fact that Investec Asset Management, a distinctive global organisation, has decided to relocate to 55 Gresham Street prior to its completion, is an endorsement of the quality of the development. The deal also represents the area’s continued pull for financial occupiers who remain committed to the City of London.”
Mike Diana of Angelo Gordon, said: “When we purchased this asset we thought it would suit a headquarter occupier and are pleased to see Investec Asset Management move their business into 55 Gresham Street. London has performed very well for us as an investment destination and we look forward to being active here for the long-term.”
JLL and Cushman & Wakefield advised Angelo Gordon and Beltane Asset Management; Devono acted on behalf of Investec Asset Management.
