The Leadenhall Building, more commonly known as the Cheesegrater, is one of London’s newest and most iconic buildings. Towering above London’s financial district, it is now 70% occupied, with British Property and Oxford Land leasing approximately 93,400 sq. ft. of the space. The diversity of tenants is testament to the unique selling points of the Cheesegrater; a globally recognised postcode can do wonders for business. RSHP, who are relocating from their current HQ in Hammersmith have signed a 15 year lease with a 10 year break. Servcorp, Dun & Bradstreet, Aon and Amlin are to name but a few of the other companies who have signed up to long leases, all taking large floor plates.
Oliver Salter, surveyor at Morgan Pryce, notes how the diversity of tenants relates to the attraction of the Cheesegrater,
“Historically Leadenhall Street has been at the centre of the financial district, but now we are seeing a diverse range of companies looking to move into the Cheesegrater. This diversification shows how companies are drawn to iconic buildings and could be compared with the ‘Trophy Asset’ concept associated with recent investments; people want to be associated with well-known, famous landmarks.”
With rents on the rise and only 30% of the building still left vacant, it will be interesting to see who is enticed into the Cheesegrater over the coming year.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.
