commercial property lambert smith hampton

News - 14/05/2013

Five-floor offices signed in Euston

Lambert Smith Hampton (LSH) has secured five floors of offices for Serviced Office Group Plc at Evergreen House, in Euston, NW1.

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The serviced and virtual office firm has taken a 10-year lease for 22,140 sq ft of the 82,667 sq ft tower, spanning the third to seventh floors at 160 Euston Road. Serviced Office Group will pay £33 per sq ft to landlord Evergreen International, with a 21-month rent-free period.

David Earle, Head of Central London Office Agency, said: "With rent-free incentives continuing to reduce due to lack of quality product, we have done exceptionally well to secure these terms." 

Euston-King's Cross: a desirable location

This transaction highlights the trend of serviced occupiers locating in the Euston-King’s Cross corridor. This has gained traction following Google’s announcement in January 2013 to relocate their £1bn global headquarters to the area. The central location within London and proximity to Euston station are attracting development on a large scale to the area.

David added: "The lease of Evergreen House to Serviced Office Group demonstrates the robust micro market of Euston, as our client believes that despite market competition, this location is viewed as an important destination for their portfolio." 

"We have noticed a genuine pick up in tenant enquiries and hope this continues to grow throughout 2013." 

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