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PRIVATE BANK SIGNS FOR OLD BOND STREET OFFICES

A Hong Kong-based private client of Gerald Eve has let 3,000 sq ft of office space at 2-5 Old Bond Street in Mayfair to a private bank.

The private bank has taken the fourth-floor space on a new ten-year lease at an annual rent of around £86.50 per sq ft. The terms of the deal, which were agreed prior to the coronavirus outbreak, remained unchanged by the crisis.

Gerald Eve will shortly begin marketing two other floors in the building later this year, each providing 3,000 sq ft, as well as a single floor at 24 Old Bond Street.

Patrick Ryan, partner at Gerald Eve, said: “Despite the current situation, we are seeing a number of companies that both have a current requirement for office space in Mayfair, and the ability to take a long-term view. The fact that terms were unchanged by the coronavirus outbreak illustrates this longer-term view.”

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