UBS announces first letting at 85 Fleet Street, London

UBS Global Asset Management has announced that its South East Recovery Fund (SERF), has let approximately 35,000 sq ft at 85 Fleet Street, its 96,000 sq ft office redevelopment in Midtown, to US law firm, Fulbright & Jaworski LLP at £53.50 per sq ft.

Fulbright & Jaworski has taken floors five to eight on a 20 year FRI lease with 5 yearly upward only rent reviews and a tenant break option after 16 years. Fulbright & Jaworski were granted a 15 month rent free period.

Alex O’Connell, Executive Director, UBS Global Real Estate said, “We are delighted to have completed our first letting at 85 Fleet Street to Fulbright & Jaworski, and are hopeful that we will achieve further lettings shortly.”

The ground to fourth floors, totalling 47,700 sq ft, are available in single floors from 3,178 sq ft at a quoting rent of £53.50 per sq ft.

Letting agents, King Sturge and Knight Frank acted on behalf of UBS. Cushman & Wakefield represented the lessee.