Speaking for the clients of Triangle Investments and Developments, it has been recently announced that Savills has confirmed the new letting in 36 Dover Street, W1 for Integration Management Consultancy, which will then increase the occupancy level of the Mayfair building up to its maximum potential; a great piece of news for Savills and all those involved.
Integration Management Consultancy, a leading provider of management consultancy services has confirmed a new, ten year lease on the office space, measured in at 2,567 square feet and sitting across the second floor of the property. They are to sit alongside those already occupying the building, which includes Victoria Beckham’s famous boutique on the ground floor, and Mercer Real Estate Advisors also.
Nodding to the way in which its client has successfully managed to refurbish and increase the value of the property on Dover Street, Savills’ Director in the West End Agency Team, Mark Gilbart-Smith expressed his enamour at the confirmation of the new letting, regarding its status as now fully-let as testament to the quality of the refurbishment.
In the Mayfair area, a traditional vacancy rate sits at about 3.8%, with the location considered to be highly sought after. The present average occupancy currently sits at the lowest figure on record since Q3 2007, as reported by Savills. Of the property in the area, the firm estimates take-up in Mayfair for 2015 to total in at 586,022 square feet, which is some 14% beyond the long-term yearly average of 505,000 square feet.
As for Savills extensive role in the property, the organisation had previously advised with regard to the procurement of the property, and is now responsible for the management of the property as a whole – a clear nod to Savills expert advice, reputation and ability to delivery on such high-value properties in prime locations. Search OfficeSpace was the representing party for Integration’s deal.