Flexible office operator Huckletree is under offer space across two floors of Mitsubishi Estate London and Stanhope’s 8 Bishopsgate, EC3.
The company is understood to have agreed to pay in the region of £70 per sq ft on a 10-year lease and has had part of a rent-free period converted into capex ahead of fitting out the space.
The deal underscores heightened competition in the flex space as operators jostle to lift their market share.
EG understands that Industrious, the US company bolstered by its acquisition of CBRE’s Hana business, was in advanced talks with Mitsubishi and Stanhope to take the Bishopsgate space on a management agreement basis until Huckletree offered to take a lease at market rent.
The site would be Huckletree’s seventh in London. New and upcoming openings include Kensington and British Land’s 199 Bishopsgate, EC2.
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