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The city of London is seeing a new trend as investors are now leasing properties in the city on a long term basis. Many of these long term investments are being made with the help of CB Richard Ellis. Currently, 700,000 sq. ft of desk space to rent is in the process of being leased in the city.

Hermes Estate rented a 130,000 sq. ft property to Stephenson Harwood, the law firm. This means that the law firm will acquire most of the building in 1 Finsbury Circus with the exception of the seventh floor.

The 15 year lease was signed at £35 per sq ft and will be reviewed at the end of a 5 year period. Along with CB Richard Ellis, King Sturge also advised Hermes about the deal.

This is not the only major deal. Macquarie, the Australian bank acquired a long term lease deal at British Land’s Ropemaker. The bank will be occupying 217,000 sq ft of the total 600,000 sq ft at this property. The property is located next to City Point. This deal was led by CB Richard Ellis too.

CB Richard Ellis was also responsible for the Blackrock Investment Management deal. They have signed a 25 year lease for a 292,418 sq ft commercial property in the Canary Wharf Drapers Garden area. This deal was closed at £49 per sq ft. The first rent review will be at the end of 5 years and can see an increase anywhere from 2.5% to 4%.