Heron Tower rent hunt hots up as McDermott moves in

Marion Dakers
US LAW firm McDermott Will & Emery becomes the first tenant to move into the Heron Tower on Bishopsgate today, kicking off a new round of marketing to fill the remaining 37 floors.

McDermott is moving into the eighth and ninth floors of the 46-storey skyscraper, taking 25,000 square feet of space for a rumoured £55 a square foot, just a week after building work ended.

Gerald Ronson’s Heron International is expected to announce more tenants in the next few weeks once contracts have been exchanged.

Agents CB Richard Ellis and Cushman & Wakefield have held talks with several international firms keen to take space, including US and Chinese companies looking for a base in London, a person close to the firm said yesterday.

For comparison, the Gherkin was 50 per cent pre-let when it was finished in 2004. However, this was taken up by a sole tenant – the building’s owner, insurer Swiss Re.

The Shard, due to complete in May 2012, has one pre-let taking 22 per cent of the tower’s space.