BDO secures West End property - commercial mortgages

12 March 2007

BDO Stoy Hayward has secured a letting on a prominent West End commercial property, featuring almost 495,000 square feet of office space.

Based at 55 Baker Street, the office space represents Gerver Freedman''s largest West End letting in over a decade. The terms of the lease are as yet undisclosed but it is thought to be worth £40 per square foot.

Tony Gerver, Partner at Gerver Freedman, explained that the property is ideal for BDO Stoy and the site is due to be fully developed by September this year. In addition to 493,000 square feet of office space it will also feature retail, leisure and residential space.

"It took almost three years to find the right property for BDO Stoy Hayward," Mr Gerver stated.

"They needed a large enough commercial property to consolidate four offices they are occupying in London''s West End."

55 Baker Street was formerly the office headquarters for Marks and Spencer and was acquired by London & Regional in 2005. The high value of BDO''s acquisition reflects upwards trends in commercial mortgages in the UK.

BDO recently posted a 21 per cent increase in revenues for the six months to the end of December 2006.