The West End of London Property Unit Trust (WELPUT) has let 155,000 sq ft of Midtown offices to a prestigious university.
Schroder's commercial property investment
division has fully let New Court on Carey Street to the London School of Business and Finance, Property Week reported.
The lease is on a short term basis prior to a planned redevelopment of the Midtown block. While the educational establishment will not pay rent for the space, which will be used for teaching, it will be accountable for all liabilities over the two years.
WELPUT can decide to end the lease after six months, when there will be a break in the agreement, the publication explained.
This week has already seen plenty of activity in the Midtown London offices
sector, with Nice4Work becoming the first tenant at Aldwych House since December 2011, which was acquired by Rowan Asset Management, Taurus and GI Partners at the end of last year.
Posted by David Hudek
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