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Ultimate Ultra-Prime Unveiled

28.04.21

Clivedale London has achieved a record rental rate for the lease of 2,200 square feet of office space over a five-year term at 73-77 Brook Street. This news comes as the ultra-prime Mayfair developer unveils the completed scheme in its entirety, setting a new benchmark for the central London commercial office market.

Representing the highest figure ever attained in Mayfair outside of a garden square location, this sum surpasses the £150 per square foot record secured for the two-story space in 2019. This achievement is in addition to the recent signing of a 10-year lease for the first floor of this commercial build, demonstrating both the significant demand for premium office space in Mayfair and St James and highlighting the scarcity of this quality of product.

The completion and rental achievements of this scheme come as signs of positive growth are seen within central London’s commercial sector despite COVID-19. Whilst a significant jump in transaction levels were reported by Knight Frank in the final quarter of 2020 – £4.9 billion worth of London deals were transacted, a figure well above the £3.4 billion quarterly average – a rebound of investor confidence is expected to gather pace throughout 2021, as outlined in Knight Frank’s London Report, as the vaccine rollout progresses, and companies anticipate a return to the office.

Knight Frank and Montagu Evans acted on behalf of Clivedale to let this space. Tracy Collins, Partner at Montagu Evans comments, “The recent demand witnessed for 73-77 Brook Street is testament to Clivedale’s delivery of an ultra-premium commercial product. The scheme offers tenants an amenity and service-rich product, in the sought-after locale of Mayfair, complemented by worldclass design and an ability to cater for a flexible workforce, all requirements which, as a result of the past year, have become more prevalent now than ever before. For a scheme of this calibre we are looking to secure remaining leases in excess of £160 per square feet.”

The success achieved by the developers whose second commercial offering, 20 Carlton House Terrace, has recently achieved planning to commence construction in London’s St James this year, is not only reflective of the hallmark quality synonymous with Clivedale, but also of an innate understanding of the global ultra-high net worth investor.

With architecture by PLP London, the 31,500 square foot scheme has been designed to the highest specification with the finest attention to detail, providing tenants with access to an unprecedented level of services and amenities, reminiscent of a five-star hotel. Rich Italian marble, dark wood panelling and bespoke joinery can be seen throughout the eight-story build, with statement furnishings including an 11-foot bespoke glass chandelier from internationally renowned lighting specialists Haberdashery, which adorns the entrance lobby. Externally the scheme boasts three striking Portland stone façades with terracotta detailing, inspired by Palladian design principles and complementary to its Georgian neighbour counterparts and the traditional Mayfair streetscape.

Fulfilling a distinct flight to quality, expected for the 2021 commercial market, this new delivery from Clivedale has been designed to provide tenants a flexible workspace, complemented by ultra-premium facilities more akin to a private members club than an office. These luxurious end of journey amenities include 800 square feet of male and female changing facilities with marble-clad showers and back-lit onyx feature walls. Tenants will also benefit from professional grade catering facilities with dumbwaiter access for each floor, bicycle storage including lockers for Brompton bicycles. 73-77 Brook Street offers commercial office units from c.2,000 square foot with a number providing exclusive terracing and outdoor space. All the tenants will benefit from the extensive amenities which will be further enhanced by Clivedale’s concierge network, in addition to the on-site team which comprises a main reception, butler, doorman, professional catering team, and building management.

Tarun Tyagi, CEO of Clivedale London comments: “At a time when London is witnessing a growing need for considered, quality office space we are proud to unveil 73-77 Brook Street. This scheme, which we have also chosen as home to Clivedale London’s headquarters, represents an ultra-premium offering in a global investment safe haven, setting new precedents in craftmanship and service.”

Located moments from New Bond Street and the historic Grosvenor Square, 73-77 Brook Street provides tenants doorstep access to all the conveniences of its Mayfair address including London’s Hyde Park and the city’s best retail, hotel, gallery and fine-dining offerings.

For leasing enquiries, please contact:

Knight Frank: Nick Garcev (Nick.Garcev@knightfrank.com, 07770 017 360) or William Foster (William.Foster@knightfrank.com, 07748 985 951)

Montagu Evans: Tracey Collins (tracy.collins@montagu-evans.co.uk, 07831 420 528) or Katie Stewart (katie.stewart@montagu-evans.co.uk, 07818 012 422)

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