The Shard Skyscraper, one of the most prominent buildings gracing the skyline of London, has acquired tenants for 30 percent of its office space, the building's manager confirmed.
According to Bloomberg, news braodcaster Al Jazeera, Duff & Phelps Corp., a New York based financial company and law firm Mathys & Squire LLP have agreed to lease about 170,000 square feet of office space in the building. Foresight Financial Group Inc and HCA have also agreed to rent space in the tower.
The manager of the building also said that about six of the total eight floors dedicated to office space shall be occupied this year, reports Reuters. 'Baby Shard' or The Place, the building located right next to the towering structure is also getting tenants. News Corp. has already signed a 30-year lease to rent 430,000 square feet space in the building.
The World Property Channel is reporting that 'Baby Shard' will also host other news agencies like The Times and the Wall Street Journal and publishing house Harper Collins as well.
The Shard is a 1016-feet tower that completed construction in July 2012 and opened February 2013. It is the tallest building in Western Europe. The tower is funded and managed by the Qatari government. The 72-story building offers 1.2 million square feet of space. Designed by architect, Renzo Piano, the building was developed by the Sellar property Group. The building is a mixed use structure that comprises of offices, restaurants, a spa, an observatory and a few residential luxury apartments as well.
The Shard remained empty for most of 2013. London's gloomy commercial real estate scenario kept the building unfilled. But Irvine Sellar, developer of the Shard said they deliberately waited for the market to pick up before they stepped up the let-ins.
"We remained patient through the downturn of the market to protect the integrity of the asset. With the market picking up at the end of 2013, we are seeing the expected and significant increase in enquiries and visits," he told ET.
However, the recent tech and media boom in the city has fuelled a rise in rents for office space. The new office occupancy rate in the city is now at its highest since 2006, according to the Economic Times. Total office lettings from the sectors has also hit an all time high.
he boom is also notching competition up in the office rental market. The Shard now has to compete with buildings like the "Walkie Talkie" and the "Cheese Grater", named after the 'silhouettes they cast on the skyline', reports WPC.
