US hedge fund managers move to Mayfair offices

York Capital Management take office space at 23 Savile Row

Article posted: 11 May 2011

New York-based York Capital Management has signed up for office space in Mayfair at 23 Savile Row. The hedge fund managers will occupy 7,600 sq ft of accommodation at the outstanding 100,000 sq ft office scheme by D2 Private.

York Capital will pay £97.50 for the premium space, with the remaining accommodation set to be marketed by joint agents CBRE and H2SO for in excess of £100 per sq ft.

Rents for office space in the West End are now the most expensive in the world, according to a recent report by King Sturge. Another hedge fund, Rhône Capital, recently signed up for top floor offices at 40 Bruton Street at £100 per sq ft. This is way above top price rents for office space in the City of London which currently stand at £55 per sq ft, but which are set to rise with the increased squeeze on Grade A stock predicted in the coming years.

23 Savile Row has received numerous prestigious awards including West End Development of the Year at the Office Development Awards 2009. York Capital will join other tenants, Altima Partners, Resolution, General Atlantic, Eton Park Capital Management and Hauser & Wirth.

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Posted by Jules