Mayfair offices fully let

Platinum Equity makes it a full house at 40 Bruton Street

Article posted: 29 Jun 2011

Platinum Equity has taken 3,225 sq ft of office space in Mayfair at PRUPIM’s 40 Bruton Street development. The 14,847 sq ft of offices in the building are now fully let.

In the latest deal, the Californian-based mergers and acquisitions specialist has taken the entire second floor on a ten-year lease at an initial rent of £98.50 per sq ft. The deal was subject to market incentives with Platinum receiving the benefit of a break option at year five of the lease.

Giles Difford, Asset Management (Commercial) Director at global real estate fund manager, PRUPIM, commented: “We are delighted with the success of 40 Bruton Street from both a retail and commercial viewpoint, and to have secured occupiers of such high calibre.

“The success of the project underlines a continuing global demand for top quality developments in prime locations from demanding occupiers who will only accept the very highest standards. The transaction is testament to the strengthening demand for prime West End offices from the international financial sector, and PRUPIM’s investment in the project reflects the opportunities real estate fund managers see in this sector.”

Other occupiers in the building include Rhone Group and William Blair. HS2O advised PRUPIM. Vail Williams acted for Platinum Equity.

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Posted by Sara