Leadenhall achieves record City rent

A record-breaking City rent of more than £100 per sq ft has been achieved at the Leadenhall Building, EC3.

Kames Capital, which currently occupies  level 26 and has £58bn under management, has agreed the rent on an 11-year lease for 7,000 sq ft on level 43.

The deal beats a previous City record of £90 per sq ft, also at the Leadenhall Building, which was achieved in April 2015 when Australian shipping broker, Affinity Shipping, signed a 10-year lease for 6,584 sq ft.

The British Land and Oxford Properties skyscraper is now fully let after two further existing tenants, MS Amlin and Rothesay Life, also committed to taking extra floors.

MS Amlin has taken expansion space on level 27, which provides 13,000 sq ft of offices. Rothesay Life has agreed to take level 32, which comprises 11,000 sq ft.

Two of the three transactions completed after the EU referendum vote.

Tim Roberts, head of offices and residential at British Land, said: “This is a significant milestone, and underlines that our decision to hold our nerve early in the cycle and attract lettings on the upper floors post-completion was the correct one.

“Moreover, to receive commitments from occupiers so soon after the EU referendum is not only a tremendous endorsement of the building; it underlines the enduring appeal of London.”

Chris Carter Keall, vice president and head of asset management at Oxford Properties, said: “Post-completion, the focus has been on attracting a broad cross section of occupiers who value service and an active engagement with owner.

“It is therefore very pleasing to have concluded these transactions with existing occupiers.

“We look forward to continuing to add to the amenity at the building with a new restaurant and retail in 2017.”

Cushman & Wakefield and JLL are letting agents on the Leadenhall Building.