Cushman & Wakefield advises Angelo Gordon and Beltane Asset Management on the 121,600 sq ft pre-let of 55 Gresham Street to Investec Asset Management.
Investec Asset Management will occupy the entire 121,600 sq ft of office space set across 11 floors and designed by Fletcher Priest Architects. The development of 55 Gresham Street, a site acquired by Angelo Gordon and Beltane in 2014, is due to complete later this year. Following completion Investec Asset Management will relocate from their current office in Woolgate Exchange, 25 Basinghall Street.
Commitment from Investec Asset Management to 55 Gresham Street prior to building completion is reflective of the sentiment in the City of London market where, according to Cushman & Wakefield’s research team, 49% of total space under construction is either pre-let or under offer.
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.”
Cushman & Wakefield, alongside JLL advised Angelo Gordon and Beltane Asset Management; Devono acted on behalf of Investec Asset Management.
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