- 1 Minute Read
- 28th January 2008
Portman rent at £95
Invista Real Estate has let the first floor of 43-45 Portman Square in London's West End at £95/ sq ft - increasing the building's rent by nearly £60 in five years.
It is believed the 15,000 sq ft floor has been let to rival fund manager Invesco Real Estate for a yearly rent of £1.43m.
The rental hike is bad news for fellow tenant Cushman & Wakefield, which occupies 70,000 sq ft in the building at £38.10 sq ft and faces a rent review in June. If its rent matches Invesco's, it would end up paying more than £3.9m extra a year.
A spokesmanfor Cushman & Wakefield said the company would not be moving out of the building. Edward Charles acted for Invista.
By Property Week, 18/01/08