Swiss Bank takes up bulk of new block

EFG Bank leases 52,000 sq ft for the next 6 years, with naming rights SWISS private banking group EFG Bank has leased 52,000 square feet or two-thirds of a nine-storey office block coming up opposite Parliament House. Prestigious address: EFG Bank Building will come up opposite Parliament House. EFG Bank is taking space that’s three times the size of its existing premises EFG has naming rights for the freehold building, which is expected to be ready in the first quarter next year. It is being developed on the former Satnam House and Amar-raj House sites by a unit of RB Capital, which is headed by 25-year-old Kishin Hiranandani, son of Raj Kumar of the Royal Brothers Group. EFG Bank’s lease is said to be for an initial term of six years, with an option to renew for a further three years. Chris Archibold, head of markets at Jones Lang LaSalle, the property’s marketing agent, said that EFG would pay a ‘low double-digit’ gross monthly ren...