Leading City law firm, Wedlake Bell, has advised CFC Underwriting Ltd on their letting of floors 10-15 at 8 Bishopsgate from the landlord, Mitsubishi Estates and developer Stanhope for a term of 15 years.
The agreement for lease for the letting was exchanged on the 11th December 2024, with completion due in March 2024.
8 Bishopsgate is a landmark 50-storey tower on the corner of Bishopsgate and Leadenhall Street and a market leading building in sustainability as the first tower to achieve both the BREEAM Outstanding and EPCA A rating.
Wedlake Bell advised on all aspects of the letting including due diligence; negotiation of the agreement for lease and form of lease; construction due diligence and construction advice in relation to the tenant fit-out works. The interior square footage covered by the lease is approximately 90,000 sq.
CFC Underwriting are a specialist insurance provider known for their market leadership in the areas of emerging risk and cyber. They were a new client for Wedlake Bell and this was one of the largest deals of this type that the firm has completed in the past twelve months.
Mitsubishi Estates and Stanhope were advised by CMS.
Commercial Property Partner David de Maupeou led on the deal with support from Legal Director Ben Dunbar and solicitor Ankita Sahadev on the letting generally. Associate Tom Mouritz advised on planning due diligence, and solicitor Natascia Alden-Clark on the construction aspects.
Wedlake Bell Partner David de Maupeou commented, “We were delighted to be able to assist CFC on this expansionary move and look forward to continuing our work assisting corporations in finding and securing exceptional office space such as this.
“It was very pleasing to be involved in the letting of a BREEM outstanding building, and to see how the sustainability elements of the letting played out as well as the challenges this presented.”