Cadogan, which last month reported that the value of its estate had increased to £5.2 billion, has completed a major office letting at its mixed-use 131 Sloane Street development in Chelsea.
The landmark deal will see global alternative asset manager Marshall Wace take the entire five floors of office space, totalling 43,000 sq ft, when the building is completed later this year.
Commenting on the deal Cadogan Chief Executive, Hugh Seaborn, said: “We had significant interest in the office space at 131 Sloane Street well ahead of marketing.
“This reflects the strength of demand across London and increasing desire for businesses to provide a great lifestyle location for their staff.
“We have further new and refurbished office space completing in 2015 and are very optimistic for the office market in Chelsea.”
131 Sloane Street, situated close to the Royal Court Theatre and the Saatchi Gallery, provides over 100,000 sq ft of commercial space. Alongside the five floors of BREEAM rated ‘excellent’ office space, it comprises 33,000 sq ft of retail space arranged over three floors and six new flagship stores on Sloane Street.
In addition the scheme will also provide artisan retail space on Pavilion Road which is set to become a new ‘village heart’ for Chelsea, featuring specialist retailers such as independent butchers, bakers, wine merchants, cheese shops and delis.
Central to the development is an open air courtyard, inspired by Milan’s Corso Como, which will provide a new restaurant set in a pleasant green space. The scheme is part of Cadogan’s multi-million pound, long-term vision for Sloane Street which is due for completion in 2020.