Derwent London has confirmed the letting of two floors at its Angel Building in east-central London to online holiday broker Expedia, and revealed a new Thai restaurant tenant for the property.
As tipped by Property Week, the world’s largest online travel company has agreed to lease the top two floors, totalling 81,260 sq ft at a rent of £3.33m a year on a 10-year lease, with no breaks and a rent-free period of 24 months.
They will pay a rent of £40 per sq ft on the 51,385 sq ft fourth floor and £42.50 per sq ft on the 29,875 sq ft fifth floor.
Busaba Eathai, a modern Thai restaurant chain, has leased a 4,200 sq ft retail unit at the south of the building. This follows the recent retail letting to Jamie’s Italian.
The 263,000 sq ft (24,400m2) Angel Building redevelopment is now 95% let.
DTZ, CB Richard Ellis, Pilcher Hershman and H2SO acted for Derwent London; Cushman & Wakefield represented Expedia. On the retail, Shelley Sandzer and CB Richard Ellis acted for Derwent London and Kelion Sworn represented Busaba Eathai.
14 May 2012