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LONDON-ChevronTexaco has signed the biggest letting in the Mayfair and St James’s markets so far this year with the acquisition of 14,765 sf on two floors in Britannic Asset Management’s 6 Chesterfield Gardens, Mayfair, London W1.

The energy company has signed a 10-year lease, subject to a tenant’s break option at the end of the fifth year, at a stepped rent rising to £52.50 ($88) per sf after an initial rent free period. ChevronTexaco will use the offices as a West End head office, in addition to its Canary Wharf offices.

The grade II listed building has been substantially refurbished to provide modern space behind a period façade in one of the few cul-de-sacs in Mayfair, close to Park Lane. Remaining floors are available between 4,000 and 6,000 sf.

Britannic was advised by Crossland Otter Hunt and FPDSavills. Bryan Pontifex of Crossland Otter Hunt, said: “This is the largest letting of built space in Mayfair and St James’s this year but is likely to be the first of many that are currently being negotiated in the core area of the West End.”

DTZ Debenham Tie Leung acted for ChevronTexaco.

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