British Land rents out more space in the West End

Real estate investment group British Land has let 24,392 square foot of office space at its new West End development at 10 Portman Square, the company announced on Friday.

Aramco Overseas Company UK Ltd, the UK affiliate of the Saudi Arabian oil company, has leased the fifth and part fourth floors at a headline rent of £92 per sq ft on the fifth floor and an overall average rent of £90.76 per sq ft, on new 15-year leases, without break, and with 24 months rent free.

The news means that British Land's Central London committed development programme is now 57% pre-let.

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"We are delighted that Aramco Overseas Company and Aspect Capital have chosen 10 Portman Square as their new London home, and we look forward to welcoming them to the building next Spring," said British Land's Director of London Leasing, James Danby.

"British Land has long had a reputation for providing high quality buildings and we pleased to be attracting such world leading firms to 10 Portman Square."