2nd Jun 2014 13:44
LONDON (Alliance News) - Max Property Group PLC Monday said it has agreed to pre-let 75,780 square feet of office accommodation at Commodity Quay at St Katharine Docks in central London to integrated shipping services provider Clarkson PLC on a 15 year lease.
The closed-ended real estate investment company said the 140,000 square feet new refurbishment at St Katharine Docks contains 127,000 square feet of offices. It is nearing completion and will be launched in June.
It said that rentals range from GPB43 per square foot to GBP50 per square foot, with higher rents on the higher floors.
"The strategy for St Katharine Docks has been to attract a community of different sector occupiers to create a diverse, vibrant and prosperous business and visitor community. Clarksons fully reflect this strategy," said Ben Walford a partner in Prestbury Investments LLP, Max Property's investment advisor.
Max Property acquired St Katharine Docks for GBP156 million in July 2011, in a joint venture 60% owned by Max Property.
It recently pre-let 22,000 square foot of Commodity Quay to Six Degrees Group, a specialist communications service company.
Max Property shares were up 1.7% at 162.75 pence Monday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Clarkson