Amlin heads for the heights in skyscraper deal

The Lloyd's of London insurer Amlin will soon be wowing its clients at the top of the "Cheesegrater" skyscraper in the City after agreeing a major pre-letting deal with British Land yesterday.

Amlin has agreed heads of terms for 111,000 sq ft in the deal, including the 6,000 sq ft 45th floor, the highest in the 224m high building available for rent. The floor, complete with panoramic views over the capital, will be used for client entertaining while the underwriter's staff toil below on floors 18 to 24. The company is likely to have paid a hefty premium for the top floor but declined to comment.

The latest deal means the Richard Rogers-designed tower is now 51 per cent pre-let ahead of completion in 2014, after the insurance broker Aon signed up for a major chunk of the building last year.

Aon paid £56.60 a sq ft for the space, ahead of the City average of around £50-£55. The relative success of the Cheesegrater, compared to other major City developments, as well as the Walkie-Talkie tower nearby, contrasts with funding issues at the Pinnacle tower, which is barely out of the ground, and 100 Bishopsgate, where the developers are yet to commit to the scheme without a pre-let.