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· Barclays and Lehman expand in Docklands

investment banks Lehman Brothers and Barclays are continuing to expand in London’s Docklands after agreeing to take further space south of the Canary Wharf estate.

22.06.07

Barclays has agreed to take around 27,000 sq ft at Hammerson’s One Exchange Tower and has an option for a further 25,000 sq ft at the 500,000 sq ft scheme.

The lease is for around 10 years. The rent was not disclosed but is in the mid-to-high twenties. Barclays took 48,000 sq ft at the scheme last year.

There is now only around 27,000 sq ft of space left at the building, of which 5,000 sq ft is under offer.

Bob Ashton, director at Cherryman, joint letting agent at the scheme with GVA Grimley, said quoting rents had now increased to £30/sq ft. Jones Lang LaSalle advised Barclays.

In another deal this week, Lehman Brothers agreed to take 61,000 sq ft of expansion space at CIT’s South Quay 3 scheme in Marsh Wall.

DTZ and Knight Frank advise CIT.