The new lease that Nomura is expected to sign on a 525,000 sq ft., City of London office property named Watermark Place sets never before seen terms in the London City office sector.

The bank has been able to negotiate a 70-month free rent period on a 20- year lease with owners Oxford Properties (a joint venture between UBS and a Canadian pension fund). The rent payable after the free rent period is £40 ($65) per square foot.

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