Last week saw the opening of London's newest square and the latest addition to the retail stock in the City of London.
Paternoster Square, beside St Paul's Cathedral, includes 85,000 sq ft (7,900 sq m) of retail space, as well as 1 million sq ft (92,900 sq m) of offices.
Paternoster House and 1 Paternoster Square have been developed by Greycoat to offer eight shops on ground and lower-ground floors. Deals have been agreed with Signet, Starbucks and a bank.
According to Mark Painter, associate director at DTZ Debenham Tie Leung, joint letting agent with FPDSavills, rents are pitched at about£175 Zone A, against£250 in nearby Cheapside.
'The scheme is effectively an extension to Cheapside, which is the City's high street,' said Painter. He added that the site would house more than 1,000 workers.
Mitsubishi Estates has also agreed deals on the north side of the square, after revising its strategy of targeting luxury brands. Conran and Caviar House have taken restaurant units, and Boots and Monsoon have also joined the scheme.
Cushman & Wakefield Healey & Baker is the letting agent for Mitsubishi.