Developer British Land and Oxford Properties are close to winning the race to secure their first pre-let at 122 Leadanhall Street, EC3. Namely, insurance giant Aon chose this scheme as the preferred option for its long term 200,000 sq ft requirement.
Rent is likely to be around £52.50 per sq ft, and the company is expected to go under offer on lower large floors next month. Other options Aon was considering was Great Portland Estate's 100 Bishopsgate and Land Securities' and Canary Wharf's Walkie Talkie at 20 Fenchurch Street, both EC3.
'Cheesegrater' is expected to be delivered in 2014, similarly as Walkie Talkie- a time of expected high occupier demand as developers are hoping.
Looks like prelets are set to continue in 2011 for large occupiers, trend that we have seen returning in 2010. This is of course great news for developers and occupier markets. According to King Sturge we are expecting to see another five big City searches that could settle over the coming months.