£16m London office interior sale

Office design news from Morgan Lovell

Published on 02-12-2009

Terrace Hill has sold 6 Kean Street in Covent Garden for £16 million.

The firm disposed of the 26,000 sq ft modern office design space to an unnamed buyer, although Doherty Baines is known to have acted as agent for the deal.

At present, a number of firms are in residence at the development, including the Virgin Green Fund and Barrow Cadbury Trust. Rental costs at the property are believed to currently be approximately £42.50 per sq ft.

Philip Leech, chief executive of Terrace Hill, said: "This sale demonstrates that there is strong demand in the market for good quality, well managed assets - particularly central London offices."

Elsewhere, research carried out by CB Richard Ellis recently revealed that office interior space in London's West End is now the most expensive in the world.

It showed the area commands higher prices per sq ft than Tokyo's Inner Central District, Hong Kong's Central Business District and Moscow.