United States computer software company Sybase is negotiating a six-year lease with Swire Properties to take up one of the top floors in soon-to-be-completed Lincoln House in Quarry Bay. Property agents familiar with the pending deal said Sybase would pay $26-$27 per square foot on the lettable area. They said it would receive six to eight months rent free for leasing one floor, measuring about 10,842 square feet. This would bring the effective rent down to about $25 per sq ft on the lettable. A company spokesman said Sybase was likely to move in by the year's end. Agents said Sybase currently leased the 33rd floor of NatWest Tower in Times Square, Causeway Bay, from Wharf (Holdings) at a reported rent in the high $30s per sq ft to low $40s per sq ft. Swire refused to confirm any ongoing negotiations with specific tenants. 'Leasing at Lincoln House is very active,' a spokesman said. 'There are a number of negotiations at hand.' The company said the average asking rental was about $27 per sq ft on the lettable area. Lincoln House has 23 storeys or 287,383 sq ft of office space for lease. It is on the site of the old South China Morning Post building. Sybase could be the first tenant to sign a lease for the building. However, area agents said Swire would like to get many of its Mount Parker House tenants to move to it. Swire has told Mount Parker tenants it will tear down the 18-year-old building, next to the MTR exit in Taikoo Shing, after existing leases run out. Agents said the timing would be about right as the developer could negotiate a cheaper land premium in this depressed market.