A West End London office space development project at 95 Wigmore Street is close to being fully pre-let after terms of an occupancy deal were agreed between its owners and a private equity company in recent weeks.

The offices at the site are being developed by a joint venture comprising the property investors Great Portland Estates and the Scottish Widows Investment Partnership, which has welcomed its latest pre-let commitment from the private equity firm Bridgepoint.

The West End scheme on Wigmore Street involves the readying of 112,700 sq ft of commercial property, most of which will be extremely well located London office space.

Bridgepoint has signed-up to occupy just short of 30,000 sq ft of space from the fifth to the seventh floor of the building on the basis of a 15-year lease.

Great Portland Estates revealed that the private equity firm will be paying around £2.6 million annually to rent the offices at a price of £90.40 per square foot.

The recently agreed pre-let commitment from Bridgepoint follows only a matter of weeks after the business consultancy and actuarial firm Lane Clark & Peacock agreed a deal to occupy 40,000 sq ft of space at the same Wigmore Street site.

“This further pre-letting in the building means the office space is close to being fully let prior to completion,” explained Neil Thompson, portfolio director of Great Portland Estates in a statement.

“Occupiers such as Bridgepoint and Lane Clark & Peacock strongly endorse 95 Wigmore Street as a high quality West End development and we have good interest in the remaining office, retail and residential space,” he said.

In February 2013, the property analyst and advisory firm Cushman & Wakefield released a report that put London’s West End in number one position in a list of the most expensive places in the world in which to rent office space, with Hong Kong coming in second.

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