69 Park Lane trumps Croydon rents

GE Commercial Finance and Brookhouse Investments, advised by joint-agents Savills and Stuart Edwards Fullermoon, have secured the highest rent in Croydon in over six years in a letting at Sixty Nine Park Lane to Liverpool Victoria.

Liverpool Victoria, has taken the entire second floor, comprising a total of 9,758 sq ft (907 sq m), at a headline rent of £20.50 per sq ft (£221 per sq m), on a nine-year lease. The area’s fastest growing insurance business already occupies 19,516 sq ft (1,813 sq m) of office space on the third and fourth floors, bringing its new total to 29,274 sq ft (2,720 sq m).

Landmark building, 69 Park Lane, comprises 80,000 sq ft (7,432 sq m) of office space over ten storeys. Following the purchase of the property in March 2005, the building has undergone comprehensive refurbishment.

Tom Mellows of Savills, comments: “Croydon’s market has been going from strength to strength over the last year and is fast becoming recognised as a key office location in its own right. This property offers some of the best quality space currently available in Croydon and this is suitably reflected in the rising levels of demand.”

Other tenants at the building include Stiles Harold Williams, RH architects, London Borough of Croydon and HBOS.

Liverpool Victoria represented by Erinaceous.