Redeveloped Office Space Now Over Half Let

Energy consultancy Gas Strategies, the International Bar Association and legal firm Goodman Derrick LLP have all lately signed agreements to lease Grade A office space at the newly redeveloped 10 St Bride Street in London, EC4. Leading property developer and investor Development Securities redeveloped the 55,100 square feet commercial property on behalf of Corpus Sireo. The redevelopment was completed in 2010 and offers floors of around 9000 square feet each.

Legal firm Goodman Derrick LLP has signed up for 16,000 square feet of office space, with Gas Strategies occupying 3500 square feet and the International Bar Association taking 8300 square feet.

Development Securities and corpus sireo, which is the investment advisor for Sireo Immobilienfonds No 4 SICAV-FIS, were advised on the deals by BNP Paribas Estate plus Jones Lang LeSalle respectively. The tenants were separately advised on the lease agreements by Daniel Watney, CBRE, and Montagu Evans.

DevSec revealed last week that a commitment of no less than £50 million in forward funding has been made by the Scottish Widows Investment Partnership Property Trust, in order to aid in the development of their speculative Hammersmith Grove scheme. The scheme in question will provide as much as 275,000 square feet of mostly new office space in West London. Earlier in October, DevSec also entered into an option agreement in order to buy office space at Algarve House in Southwark, SE1, which appears to be ripe for a number of potential development possibilities.

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