King’s College London has acquired 25,300 sq ft of offices at 5-11 Lavington Street, SE1.
The accommodation on the third and fourth floor of the building will house the college’s IT department, which is relocating from Drury Lane in Covent Garden.
The college has taken a new 15-year lease - with a mutual break option at the 11th year - at an annual exclusive headline rent of £1.4m which equates to just over £55 per sq ft.
Rupert Cowling of Union Street Partners – who advised the landlord on the letting – said: “Higher education providers have become an important driver of occupier demand in recent times. The South Bank market can provide the quality of space they need in a central location and at the right total occupational cost."
Union Street Partners and Masons Property Advisors City acted on behalf of the landlord, Europoint Centre (London). King’s College London was unrepresented.BACK TO NEWS