New Hatton Garden offices for LastMinute.Com

Derwent London secure 22,300 sq ft letting at the Johnson Building

Article posted: 21 Nov 2011

Derwent London last week announced that Last Minute Network Limited (“Lastminute.com”) has taken 22,300 sq ft of office space in Midtown, EC1 at the Johnson Building, 77 Hatton Garden.

The online travel and leisure retailer will occupy the entire third floor of the property and will pay a rent of £42.50 per sq ft, the highest level achieved in the building, amounting to £0.95 million per annum. The previous tenant paid a surrender premium to vacate the floor which was then simultaneously let to Lastminute.com at a higher rent on a 10-year lease with a tenant break and rent review in the fifth year.

John Burns, Chief Executive Officer at Derwent London, commented: “The redevelopment of the Johnson Building was completed in 2006 and is one of Derwent London’s flagship schemes. We are delighted to welcome Lastminute.com to this high quality Midtown property where they will be joining well known occupiers such as Grey Communications and Thomson Reuters.”

Jones Lang LaSalle acted for Lastminute.com whilst Derwent London was unrepresented.

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Posted by Jo