The period office building was renovated by Hines, the US-based property developer, to provide 25,716 sq ft of prestigious office space behind an ornate retained facade.
AXA Private Equity, Genel Energy UK Services and Dering Ltd already rent executive offices within the Mayfair office building.
Levitan Investments LLP is the latest arrival. The private equity partnership has taken a 10-year lease on the entire third floor of the building at an agreed a rent of £97.50 / sq ft.
Hines UK’s MD, Ross Blair said: “One Grafton Street has attracted some of the highest rents in London during this property cycle. We are currently at advanced stages of negotiations with prospective tenants for the remaining space, and the second floor is under offer. We expect to announce further lettings very soon.”
The Mayfair office rental investment is held within Hines’ European Value Added Fund.
The seven-storey trophy asset is prominently located at the corner of Grafton Street and Hay Hill, and was purchased by Hines in 2007.
Hines quickly identified potential to expand and modernise the property, appointing BFLS architects to design a mixed use scheme. Construction started in 2008 and was completed in 2010, to adding a mansard roof extension with a 3,100 sq ft luxury apartment. The finished scheme has a traditional appearance in keeping with the exclusive Central London business address.