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.

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.

"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."

Recommended

Share tips of the week - 12 August
Share tips

Share tips of the week - 12 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
12 Aug 2022
Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022

Most Popular

Don’t listen to the doom-mongers – the future is bright
Economy

Don’t listen to the doom-mongers – the future is bright

With volatile markets, raging inflation and industrial unrest, it may feel like things are bad and likely to get worse. But the end of the world is no…
15 Aug 2022
Are UK house prices set to fall? It’s not so simple
House prices

Are UK house prices set to fall? It’s not so simple

Figures suggest UK house prices are starting to slide, but we shouldn’t take these numbers at face value, explains Rupert Hargreaves.
11 Aug 2022
How solar panels could lower your energy bill
Energy

How solar panels could lower your energy bill

Solar-panel installation firms are reporting a four-fold increase in orders this year compared with 2021. Ruth Jackson-Kirby explains how solar can he…
14 Aug 2022