The Property Merchant Group and Morley Fund Management, advised by Strutt & Parker and Teacher Marks, have let the offices at 25 Maddox Street, London, W1 in its entirety to three separate tenants setting a new rental record for the immediate locality.

Redevelopment of the 26,000 sq ft office building was completed in November 2006. Details of the lettings are as follows:

• Aladdin Capital Management has taken 4,633 sq ft of office accommodation on the first floor. The capital management company has taken a ten year lease at a rent of £87.50 per sq ft. HNG advised Aladdin Capital Management.

• Condé Nast has taken a total of 16,688 sq ft on the second, fourth, fifth and sixth floors. The British publishing company has taken a ten year lease, with the fifth and sixth floors achieving a rent of £90 per sq ft, the fourth floor achieving a rent of £80 per sq ft and the second floor achieving a rent of £87.50 per sq ft. Pilcher Hershman & Partners advised Condé Nast.

• Carillion plc has taken 4,674 sq ft of office accommodation on the third floor. The support services and construction company has taken a ten year lease at a rent of £87.78 per sq ft. JV Property advised Carillion.

Henry Richardson of Morley comments:

“ This is another example of the success of Morley’s development programme in the West End over the past 18 months and our ongoing commitment to the West End market”.

James Bowdidge of Property Merchant Group comments:

“ We are delighted with the superb building that we have created and the excellent occupiers that is has attracted. This continues our commitment to the West End”.

Andrew Heath, Partner of Strutt & Parker’s West End Business Team adds:

“Morley’s and Property Merchant Groups decision to redevelop 25 Maddox Street has created an excellent building providing efficient, corporate office space in an ever improving location. The stature of the tenants is testament to the quality of the building”.

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