Savills beat competition to secure appointment as letting agent for prestigious London building

In 2006, our Investment department secured funding for the building of 40 Portman Square, an exciting office and apartment property in the heart of London’s West End. Now that success was followed up by the Savills West End office agency department winning a competitive pitch against five major London practices. The team was appointed joint letting agent at the beginning of 2007 to advise the freeholder (Portman Estate), the fund (Standard Life) and the developer (Delancey plc).

On completion, 40 Portman Square will provide approximately 100,000 sq ft of high quality office accommodation plus 20 luxury apartments on one of London’s most prominent squares.

In place of formal marketing, our team set out to identify potential tenants. Although our expertise and experience indicated that the building would have the greatest appeal to businesses in the financial services sector, we also targeted companies from rapidly expanding economies overseas. As a result of this approach, 85% of the building has been pre-let some eight to nine months ahead of completion at rents up to £115 per sq ft. The tenants include an Indian organisation that will be locating its new European headquarters on the 1st floor.

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