Nomura secures six years free rent in City of London offices
As reported on our blog yesterday, Japanese bank Nomura has recently secured a long-term lease at offices in the City of London.
It has been revealed that the firm has secured a period of almost six years completely rent-free. Such a negotiation has been made possible partly due to economic conditions, but also because Nomura has agreed to fit out the newly developed property.
Around 4,000 staff will be moved into the City offices next September.
The Telegraph reports that Oxford Properties, who own the office building, are starting to show interest in other offices in the City of London and the West End amid “falls in value of about 45%”.
According to the article, Paul Brundage, executive vice-president of Oxford Properties, says: “I believe that London is a long-term, core market for Oxford to invest in.”