Hedge funds snap up Mayfair office space to house new staff

 
Elizabeth Fournier
THE AMOUNT of West End office space occupied by hedge funds has more than doubled in the past year, according to new figures, as established hedgies lease extra room for expansion plans.

Over the past 12 months the West End space taken by hedge funds has ballooned from 25,000 square feet (sq ft) to 58,000 sq ft, according to Cushman & Wakefield.

Mayfair and St James’ are still the most popular locations for funds to lease space so far this year, with 31 per cent of office lettings in the area going to hedge funds and a further 24 per cent to private equity.

“There is increasing competition within the alternative investment sector with hedge funds, private equity and wealth management companies all looking to secure first class office space,” said Henry Peto, partner at Cushman &Wakefield.