21st Sep 2006 07:02
Great Portland Estates PLC21 September 2006 21 September 2006 Great Portland expands in Southwark, SE1 Great Portland Estates plc ("GPE") announces the expansion of its business inSouthwark through; • The submission of a planning application for a major mixed usedevelopment totaling 188,000 sq ft at 240 Blackfriars Road, SE1; • The purchase of the 38,300 sq ft Delfina Studios in BermondseyStreet, SE1 for £8.1 million. At Blackfriars Road, following the £3.0 million purchase of the last remainingpart of the island site from housing charity Novas, GPE has increased the sizeof its proposed development from 131,000 sq ft to 188,000 sq ft, up from theexisting building's 34,000 sq ft. The proposed 15 storey office building, designed by leading London architectsAllford Hall Monaghan Morris, will incorporate flexible 12,000 sq ft floors and2,300 sq ft of retail and restaurant accommodation. An adjoining residentialbuilding will provide 10 apartments. In a separate transaction, GPE has acquired Delfina Studios in Bermondsey Streetfor £8.1 million. The buildings comprise 38,000 sq ft of B1 studio and warehousespace on a 0.6 acre site. A planning application will be submitted shortly tothe London Borough of Southwark for a refurbishment and partial new builddevelopment to provide 49,000 sq ft of offices, retail and restaurant space withcompletion scheduled for autumn 2008. Toby Courtauld, GPE Chief Executive, said: "240 Blackfriars Road, an importantpart of our medium-term development programme, will play a key role in theregeneration of this part of the Southbank. Delfina joins the Group's extensivenear-term programme and provides us with an opportunity for some creativeredevelopment, from a low entry cost, in this rapidly improving part of theCapital." To access photograph please cut and paste the below link into your web browser: 240 Blackfriars Road, SE1. http://www.rns-pdf.londonstockexchange.com/rns/2639j_-2006-9-20.pdf Contacts: Great Portland Estates plcToby Courtauld Chief Executive 020 7647 3042Neil Thompson Development Director 020 7647 3029 FinsburyGordon Simpson 020 7251 3801James Murgatroyd This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GPOR.L