Quilter Cheviot has completed a deal to take a 27,000 sq ft new headquarters at UK & European Investments’ 1 Kingsway, WC2.
The investment management firm has agreed a 15-year lease with a 10-year break option on the fourth and fifth floors of the Midtown block, as tipped by Estates Gazette in April.
The letting, which is understood to be close to £60 per sq ft, means only two floors now remain available at the 130,000 sq ft property, which also houses the Delaunay restaurant.
Quilter is currently based in 28,000 sq ft at Aviva Tower, 1 Undershaft, EC3. The relocation will facilitate the integration of investment firm Cheviot Asset Management, which Quilter bought late last year. Cheviot occupies 12,500 sq ft at 90 Long Acre, WC2.
Quilter Cheviots’s chief executive, Martin Baines said: “We are delighted to be moving to 1 Kingsway. This move will see all client facing staff from our two London offices move to a single location, which will bring a range of benefits such as increased client meeting space and ease of communication.”
Barnaby Kelham, chief executive of UK & European, said: “Our lettings strategy to date has focused on leasing space to high quality organisations that sit perfectly with the profile of this area of Covent Garden.
With The Delaunay continuing to flourish at the site, and 80% of space now let, 1 Kingsway has become a prestigious landmark destination in the heartland of London.”
DTZ represented Quilter Cheviot; Jones Lang LaSalle and Farebrother advised UK and European Investments.
Joanna.Bourke@estatesgazette.com
