A record rent price has been set in the north London borough of Camden by Condé Nast, publisher of Vogue and Glamour.
The international publishers have taken on 13,500 sq ft in 128 Albert Street, Camden. This property is managed by Threadneedle Investments and the rent is thought to be £52.50 per sq ft. This is a rate higher than usual Camden rates, which have not yet seen to be over £50 a sq ft. There is an expectation that this signals rent increases for the future of the borough.
Condé Nast control the publishing of many worldwide magazines, including the well-known publications of Vogue and Glamour. This new London location will play host to the company’s digital and technology staff, and is ideally located as there are quick and easy transport links to the headquarters in Hanover Square’s Vogue House.
Condé Nast is a sub-company to Advance Publications, and mass media organisation which has its HQ in New York. Every year, the company caters for its 164 million customers by providing material from 20 different print and digital brands, including Condé Nast Traveller and Vanity Fair. Condé Nast Entertainment was begun in 2011, seeing hr business move into the world of television and film.
Condé Nast was advised by Pilcher Hershman, whilst DTZ and Edward Charles & Partners were the letting agents.
None of the parties were available to comment.