New York law firm Debevoise & Plimpton has completed a letting of 70,000 square feet of offices at the Daily Mail's former headquarters building in London as the City's office leasing market has enjoyed a strong start to 2024.
Market sources said RX London and JLL have advised landlord DWS, a subsidiary of Germany's Deutsche Bank, on the letting of three floors at the Northcliffe, 28 Tudor Street to Debevoise & Plimpton. The law firm, which has been advised by Squarebrook, is based in around 54,000 square feet at 65 Gresham Street.
DWS has been carrying out a redevelopment of the Grade II-listed building to include 186,700 square feet of offices with terraces totalling 9,800 square feet. It has retained the former Northcliffe House's ornamental 1920s Art Deco-style while retrofitting to improve sustainability credentials and modernise the offices.
It comes as a raft of central London office transactions have been completed at the turn of the year.
Generali Real Estate, the real estate arm of Italian insurance giant Generali, has leased 81,512 square feet at Times Square, 160 Queen Victoria Street, EC4 to Bank of New York Mellon, as tipped by CoStar News.
The transaction raises the building’s occupancy to 94% let. The financial group already occupies 236,000 square feet at the building. Knight Frank and Savills are joint letting agents at Times Square, while JLL represented the tenant.
Capgemini is understood to have completed its letting of an 89,000-square-foot headquarters at Brazilian family J Safra's Selso development at 95 Queen Victoria Street. It is moving from 40 Holborn Viaduct.Newmark and Cushman & Wakefield advise J Safra. Cushman & Wakefield advised Capgemini.
AXA IM Alts has also continued to fill up the 22 Bishopsgate tower in the City. Motability Operations, which runs the scheme that leases accessible vehicles, mobility scooters, wheelchairs and other forms of transport to people with disabilities, will occupy 25,563 square feet at the tower, while Fidelis Insurance, advised by Savills, has taken 15,000 square feet. JLL and CBRE advise AXA IM Alts.
Canadian investment giant Brookfield has signed law firm Pillsbury Winthrop Shaw Pittman for 15,330 square feet on the 34th floor at 100 Bishopsgate in the City. Newmark and Knight Frank advise Brookfield at the near 1 million square foot tower. Savills advised Pillsbury.