The 10-year-old Gleacher & Co. LLC will be opening its firstUnited Kingdom office on the third floor, taking 10,240 sf in a15-year pact, a Harwood source has told GlobeSt.com. The fourthfloor's 10,400 sf will be occupied by Elliott Management Ltd., a23-year-old hedge fund. Elliott Management, a subsidiary ofUS-based Elliott Associates LP, also has signed a 15-year lease. Itwill be relocating from a smaller office that it has maintained inLondon for the past six years.

Gleacher, a Madison Avenue company, already has ties in the UK,counting among its partners, Sir John Craven, who had been knightedtwo years ago for services to London and the banking industry. The39-year-old Craven had joined Gleacher in January along with AltonF. Irby III, another well-known in London business circles.

Some say the Cleveland House, situated in St. James Square, isasking a Queen's ransom for the space, reportedly breaking allLondon rental rate records. The space supposedly is fetching $164per sf, a handsome fee no doubt bolstered by its positioning in thehigh-profile, bustling financial district and proximity toBuckingham Palace, world-renowned hotels, restaurants andunderground stations for Green Park and Piccadilly. The ClevelandHouse neighbors some of the world's foremost financial firms,including J.P. Morgan, State Street Bank, Banque Nationale deParis, GE Capital and J. Rothschild Holdings.