July 23, 2015
Sapcote Developments, advised by Frost Meadowcroft and Hanover Green, has agreed a new record rent for refurbished office space in Hammersmith, west London.
US-based market research company NPD will pay a rent of £50 per sq ft after signing a 10-year lease, with a tenant-only break after five years, for 3,500 sq ft of newly refurbished offices within Sapcote’s Broadway Studios.
This is the first time rental levels have edged to £50 per sq ft for refurbished rather than newly built space. The 3,500 sq ft comprises part of the third floor and Broadway Studios are located at 20 Hammersmith Broadway, directly next to Hammersmith tube station and Broadway shopping centre.
Shaun Wolfe of Frost Meadowcroft commented: “This letting demonstrates the strength of the Hammersmith office market and continues the upward rental trend. The area is extremely popular as an office location and there is a limited supply of Grade A space.”
NPD was advised by Bilfinger GVA.