Significant sale and three leasing deals see new arrivals hit the ground running
Gerald Eve’s expanded West End team has announced a significant sale and three office leasing deals, highlighting the extent to which the new arrivals have hit the ground running.
The firm advised The Food and Drink Federation on its £14.75 million (£1,420 psf) sale of 6 Catherine Street in Covent Garden to Andrew Lloyd-Webber’s The Really Useful Group. The 10,400 sq ft building – which is adjacent to The Really Useful Group’s Theatre Royal, Drury Lane – has been acquired with vacant possession.
In addition, Derwent London has let 3,400 sq ft of office space at 23 Fitzroy Street, W1 to marketing agency Earnest, which has taken the space on a new ten-year lease at an annual rent of £62.50 per sq ft.
Also, acting on behalf of private landlord clients at 14 Waterloo Place in St James’s, Northleaf Capital has acquired the third floor, totalling 2,800 sq ft on a new ten-year lease at an annual rent of £84.50 per sq ft.
Finally, at 34 Dover Street, W1, the last remaining floor has been let on behalf of private landlord clients, bringing the total leasing activity at the property over the past nine months to 15,000 sq ft.
Stephen Peers, partner at Gerald Eve, said: “When you join a new firm it’s important to get those first deals under your belt and closing these transactions is testament to our smooth transition in to Gerald Eve. We are up, running and the strength in depth delivered by combining these established businesses is immediately tangible.”
Eight people joined Gerald Eve’s existing agency business as part of its recent acquisition, with a further 28 arrivals split between the firm’s capital markets, lease advisory, lease exit and industrial teams.
Gerald Eve acted on behalf of The Food & Drink Federation, Derwent London and private investor clients on 14 Waterloo Place. Gerald Eve and Capita acted jointly on behalf of private investor clients on 34 Dover Street. CBRE represented The Really Useful Group, Cayman Island Government Office was advised by Morgan Pryce and Cyril Leonard was agent for Northleaf Capital.