British Land signs another tenant to the Cheese Grater

One of the City's more recent office developments gained a new high-value tenant on Friday, with Quadrature Capital signing terms for Level 33 of British Land's Leadenhall Building - coloquially known as the Cheese Grater.

The FTSE 100 property developer and investor said hedge fund Quadrature had signed a ten year lease for the 11,000 square feet of floor space, and was going to relocate from its current premises at Bishopsgate.

British Land said the deal meant the Leadenhall Building was now 94% let or under offer, with ten businesses in occupation over 32 floors.

"Our leasing strategy for the building was predicated on the variety of floorplates available, and our belief that we could attract blue chip occupiers to the building's upper floors post completion", said British Land head of offices and residential Tim Roberts.

"The letting to Quadrature Capital is further evidence that our instinct was correct, and we continue to see strong demand for the limited space still available", he added.

Chris Carter Keall, vice president and head of asset management at co-developer of the site Oxford Properties, described the current two-thirds occupancy as extremely pleasing.

"The re-opening of the public space and walkways has created a real sense of vibrancy at the building, and we look forward to welcoming Quadrature Capital in the coming months", he said.