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Stephenson Harwood has secured a long term lease in the Hermes Real Estate property, 1 Finsbury Circus. Currently there are approximately 700,000 sq. ft of desk space to rent deals within the city of London and this is just one of the prominent deals.

The property is a commercial space of 190,000 sq. ft and Stephenson Harwood, the law firm, is reported to have leased about 130,000 sq. ft of that. They have leased the entire property with the exception of the seventh floor.

The term of the lease is 15 years with a 4 year rent free period. The firm secured the rent at the rate of £35 per sq ft. The rent will be reviewed after a period of 5 years after which it may increase. CB Richard Ellis and King Sturge were the ones who advised Hermes about this deal.

This commercial property acquisition went through after a major deal by Macquarie. The Australian bank is expected to occupy 217,000 sq. ft of the Ropemaker property. This property is adjacent to City Point. The deal was led by CB Ellis Richards.

CB Ellis Richards was also responsible for the recent deal struck by Blackrock Investment firm. They have signed a deal for the entire property in Drapers Garden. This is a total of 292,418 sq ft. The property is owned by Exemplar Developments and Canary Wharf Group. A 25 year lease was signed at the rate of £49 per sq ft. The rent will be reviewed at the end of a period of 5 years and it may see an increase of 2.5 % to 4%.