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AON Consolidates at Cutlers Gardens in the City

LONDON-Insurance giant AON has consolidated its holdings in the Cutlers Gardens complex in the City of London. It has already taken an additional 13,000 sf and it has another 20,000 sf under offer. Insignia Richard Ellis is advising.

By Graham Parker | Updated on April 10, 2002

LONDON-In a string of deals insurance giant AON is consolidating its holdings in Cutlers Gardens, EC2. It already occupies 52% of the 400,000-sf complex. Advised by Insignia Richard Ellis, AON has already taken another 13,482 sf and it has a further 20,000 sf under offer.

On the fifth floor of 5 Devonshire Square, AON has taken an assignment of Mastercard Europay’s lease on 6,308 sf, expiring in 2005 with a passing rent of £19.50 ($28) per sf. On the first floor of 9a Devonshire Square, a new five-year lease was agreed on 4,544 sf at £40.00 ($58) per sf. And on the fifth floor of East India House, AON has taken an assignment of Invesco’s lease on 2,630 sf, expiring in 2007 with a passing rent of £32.50 ($47) per sf.

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