(Bloomberg) -- Evercore Inc. has signed a lease for a new London headquarters in the city’s Victoria district.
Private equity firm BGO signed a pre-lease agreement with a financial firm for 135,000 square feet (12,542 square meters) at its 105 Victoria Street development, according to an emailed statement Monday that did not identify the tenant. That tenant is Evercore, two people with knowledge of the deal said, asking not to be identified as the details are not public.
A representative for BGO declined to comment on the identity of the tenant and a spokesman for Evercore declined to comment.
Tight vacancy rates and a dearth of new supply in London’s prime Mayfair and St. James’ districts has prompted several financial firms to vacate the area for new projects elsewhere. Evercore rival Lazard Inc. is due to leave its longstanding base on Stratton Street next year in favor of new premises to the north of Oxford Street on Manchester Square.
Evercore’s EMEA business is led from its London outpost currently based at Stanhope Gate in Mayfair, where it has more than 300 bankers. The firm is also expanding in Paris and has offices in Frankfurt, Madrid, Tel Aviv and Dubai.
The deal is the first to be signed at the 445,000 square foot 105 Victoria Street development, which will be the UK’s largest 100% electric, net zero carbon office development, according to its developer. It represents the largest ever pre-lease agreement signed in London’s Victoria based on the amount of rent, it added. The building is due to complete in the summer of 2026.
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