Transformer Properties has set a record office rent for London’s Spitalfields area in a deal with designers and architects Architekton on Fashion Street.
Architekton has signed a nine-year lease on 1,841 sq ft of offices and studio space at 11-29 Fashion Street. The rent is £110,000 a year or £59.75/ sq ft.
Paul Belchak, who advised Transformer Properties alongside Richard Susskind & Co, said: “The property has been newly refurbished to reflect the inherent character features and location of the building. Achieving rents close to £60/ sq ft demonstrates demand for the right high quality space in this area.”
Architekton was not advised.