Addington, the investment and asset management specialist has signed the final letting at Randall House, 6 Dowgate Hill, EC4.
GBE Services Limited has taken 2,245 sq ft on the fifth floor of the building on a 10 year lease, with tenant’s break at year 5 – at a rent of £70 psf.
This follows on from Rightship UK Limited taking 2,458 sq ft on the fourth floor of the building, on a 10 year lease, with tenant’s break at year 5 – at a rent of £71.50 psf in June 2016. These two lettings mean the 15,853 sq ft building is now fully let.
Ingleby Trice and Farebrother were the letting agents on both deals.
Randall House was one of the properties Addington purchased in joint venture with EPISO 3, an opportunity fund advised by Tristan Capital Partners, as part of a portfolio in August 2014. The 15,853 sq ft office block was vacant when purchased. Since then Addington has re-geared the headleasehold interest to obtain a new 150 year lease and has comprehensively refurbished the building to provide modern air conditioned office accommodation on six floors (LG to fifth) behind a listed facade.
Last March, Addington announced Arrow Enterprise Computing Solutions Limited had taken 6,278 sq ft on the ground, first and second floor of the building and Minter Ellison, one of the largest Australian based international corporate law firms, had taken 2,404 sq ft on the third floor. Both were at headline rents of around £70 per sq. ft
Martin Roberts, Principal of Addington said, ” Despite the worries of the impact of Brexit on City take up, businesses are committing to new space in what remains a tightly supplied market, at levels close to those being achieved this time last year.
We are delighted to have put our development management skills to such good effect.”
