SGP Property & Facilities Management has secured a tenant who will lease a commercial property until December 2015. The new tenant plans to run a music school over three floors in the south west of
London. But that is not all, as Morgan Lambert & Partners have sold a freehold investment commercial property to a private pension fund in central London.
SGP’s client is Artpeggios Limited who will run the music school in Earls Court Road, London. The company offers tuition, lessons, lectures and master classes in music. The company will have plenty of space to run the school in the commercial property with a ground floor of 1,179 sq ft, the first floor of 920 sq ft and the second floor of 988 sq ft. The rent is £60,000 per annum, but the company will not start paying rent until the end of September as a three month free rental period was part of the deal. The lease will run until December 2015.
Morgan Lambert’s client, whose name remains anonymous has acquired the freehold investment which is a grade II listed five storey commercial property for £4,500,000 excluding VAT. The Private Pension Fund has rented the property, located on Doughty Street, London to Page White & Farrer who specialise in patent and trade mark law. They will occupy the 7,089 sq ft building until January 2014 at a rent of £225,000 per annum.
Page White & Farrer have already sublet the property to Ear to the Ground Ltd.
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