Derwent London, a FTSE 250 property firm based in the capital, has let 47,700 sq ft (4,430m2) of office space at 10-4 Pentonville Road, Islington, to Ticketmaster UK.
Ticketmaster will occupy the whole of 4 Pentonville Road and the upper five floors of 10 Pentonville Road under a 12-year lease with no breaks. The tenant will pay £1.9m per annum at this seven floor building, based on £45 per sq ft (£484 per m2) on the top floor and £42.50 per sq ft (£457 per m2) on a typical mid-level floor, with a rent free period of 30 months.
There are upward-only rent reviews after five and ten years, with a minimum uplift to £2.0m after five years.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
John Burns, Chief Executive Officer of Derwent London, said: "We are pleased to welcome Ticketmaster to our newly regenerated offices at 10-4 Pentonville Road, another leading business taking space in this rapidly improving, vibrant location."
CM
-
State pension to rise 4.8% in April under triple lockThe full new state pension is set to reach £12,548 a year, reflecting the 4.8% wage growth measured under the triple lock. The bumper boost will raise questions about fairness and sustainability, while more pensioners could be hit with a tax bill
-
Inheritance tax pension reforms will delay payments to grieving families and the taxmanThe government is pressing ahead with plans to charge inheritance tax on pensions but there are warnings that it will be harder for executors to administer an estate and pay HMRC
