Derwent closes in on Charlotte Street prelet

Derwent London is close to signing another major corporate occupier for its 80 Charlotte Street, W1, office scheme, taking the building close to being fully prelet. Boston Consulting Group has placed 150,000 sq ft under offer at the 380,000 sq ft scheme, which is Derwent’s biggest development and due for delivery in 2019. BCG would treble its central London footprint with the letting, joining design and engineering giant Arup, which signed for 133,600 sq ft on a 20-year lease in February. The BCG deal for the bulk of the rest of the space has not yet completed, and listed company Derwent refused to comment on it. The deal would come close to filling the 321,000 sq ft of office space provided by the scheme; Arup also has an option to take a further 40,700 sq ft. US management and consulting firm BCG has occupied 52,000 sq ft of office space at 20 Manchester Square, W1, since 2008, paying around £60 per sq ft, according to EGi data. Since launching its search for a new HQ in August last year, BCG has explored several options in the capital, including Brockton’s Post Building, WC1, and Great Portland Estates’ Hanover Square, W1, scheme. Quoting rents at 80 Charlotte Street, where Derwent is redeveloping the former UK headquarters of advertising giant Saatchi & Saatchi, are around £75 per sq ft. BCG is one of the world’s “big three” consulting firms by revenue, and has 85 offices in 48 countries. JLL, Pilcher Hershman and CBRE advise Derwent London. Cushman & Wakefield represents BCG. To send feedback, e-mail nick.johnstone@egi.co.uk or tweet @n_johnstone or @estatesgazette