Hines UK secures lettings at London’s Mayfair

Hines UK has secured a further prime rent office letting at One Grafton Street, the prestigious office building in the heart of London’s Mayfair. The firm has also let the final retail unit on the ground floor of the 35,000-square-foot development. Private equity firm Levitan Investments LLP has taken the 3rd floor of the building, on a 10-year lease at £97.50 per square foot. The transaction represents the latest of a string of prime rents secured at One Grafton Street, following recent lettings to Genel Energy UK Services, AXA Private Equity and Dering Limited.

Ross Blair, managing director of Hines UK, said: “One Grafton Street has attracted some of the highest rents in London during this property cycle. We are currently at advanced stages of negotiations with prospective tenants for the remaining space, and the second floor is under offer. We expect to announce further lettings very soon.” The final retail unit has been let to Spianata, for what will be the artisan Roman bakery’s first outlet in the West End, and sixth in London. All four retail units are now fully occupied, with the other units operated by leading French fashion designer Vanessa Bruno, French furniture designer Guillaume Alan, and Anna Casa Interiors.

Hines UK has acted on over two million square feet of projects acquired, completed or in the pipeline, with a total value in excess of £1billion. The company’s growing London portfolio of assets under management includes landmark city office development Cannon Place, Mayfair’s One Grafton Street, and Midtown’s 280 High Holborn and Stonecutter Court. Outside the capital, Hines UK is asset manager at Brindleyplace in Birmingham on behalf of the Hines Global REIT and is developing Two Snowhill in Birmingham on behalf of Hines European Development Fund II. Hines UK was advised by GVA and Knight Frank, with Levitan Investments LLP representing themselves. Spianata was represented by Savills with CBRE advising Hines UK.