LONDON (Alliance News) - easyHotel PLC on Thursday said it has pre-let the entire office accommodation at its property located at 80 Old Street, London, to a single tenant.
The company, which owns and develops budget hotels, said the offices have been pre-let on a ten-year lease at an annual rent of GBP59.50 per square foot, with an upward only rent review at year five.
The new tenant, Knotel, is a flexible office operator that currently manages over 3 million square feet of space across 200 worldwide locations.
The offices are located on the third and fifth floor of the property, with the newly refurbished 89-bedroom hotel, ground, first and second floors, due to open in June.
"With the office space now let and the newly refurbished hotel on track to open in June, both ahead of plan, we continue to be very pleased with the outcome of the redevelopment programme at Old Street," Chief Executive Guy Parsons said.
easyHotel shares were untraded on Thursday at 73.95 pence each.