11th Jul 2016 12:20
LONDON (Alliance News) - British Land Co PLC on Monday said the Leadenhall Building is now fully let after it secured agreements covering the remaining space with three existing tenants.
British Land said Kames Capital, MS Amlin and Rothesay Life, all current tenants of the building, known as The Cheesegrater, have agreed to take up the three remaining floors. It noted two of the three transactions were agreed since the outcome of the EU referendum on June 23.
Kames, an investment manager, has completed an 11-year lease for Level 43 in the building, in addition to its existing tenancy on Level 26.
MS Amlin, a Lloyd's of London insurer acquired by Japanese group Mitsui Sumitomo Insurance Co Ltd last year, has expanded its lease on Level 27 of the building, in addition to existing space it is renting at the building.
And Rothesay life, a specialist insurance company, has agreed to take Level 32, in addition to its existing tenancy of Level 25.
British Land provided no financial details on the three lettings.
"This is a significant milestone, and underlines that our decision to hold our nerve early in the cycle and attract lettings on the upper floors post-completion was the correct one," said Tim Roberts, head of offices and residential at British Land.
"Moreover, to receive commitments from occupiers so soon after the EU referendum is not only a tremendous endorsement of the building; it underlines the enduring appeal of London," Roberts added.
British Land shares were up 3.2% to 606.00 pence Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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