City of London News – 18/09/2015

EG reports that a pair of law firms are close to leasing space at the Aldgate Tower, which would bring the 317,000 sq ft speculative development close to fully let. Ince & Co is under offer to lease around 40,000 sq ft on the 14th and 15th floors. It has agreed to pay roughly £61 per/sq ft for the space. Law firm Reddie & Grosse is under offer for the `3th floor and has negotiated a rent in excess of £55 per/sq ft. Gm Real Estate and BNP Paraibas Real Estate are letting agents on the tower. CBRE acted for Ince & Co; Farebrother advised Reddie & Grosse.

EG reports that The Malaysian Employees Provident Fund has appointed agents to market the Fleet Street HQ of Freshfields Bruckhaus Deringer. Cushman & Wakefield has been instructed to find a buyer for the 230,000 sq ft 65 Fleet Street, seeking bids in the region of £170m – a circa 5% yield.

EG reports that Bank of London and the Middle East will occupy the fifth floor of the 400,000 sq ft Hines’ Cannon Place development. Quoted rents are £67.50 per/sq ft.