10th May 2007 11:32
British Land Co PLC10 May 2007 Henderson Group in major City pre-letting Henderson Group plc (Henderson) and The British Land Company PLC have exchangedcontracts for a pre-letting of 124,000 sq ft at British Land's flagship new Citydevelopment, 201 Bishopsgate. At 201 Bishopsgate, Henderson will be entering into new 20.5 year leases with anoption to extend for a further five years. 201 Bishopsgate, along with the adjoining Broadgate Tower, is one of two newbuildings that form the latest phase of Broadgate providing some 822,000 sq ftof new accommodation. A further 223,000 sq ft at 201 Bishopsgate is alreadyunder offer to solicitors, Mayer Brown Rowe & Maw LLP. Taking into accountaccommodation on which Mayer Brown and Henderson have options, 201 Bishopsgateis 100% let and under offer. Henderson will relocate from its existing headquarters at 4 Broadgate and aspart of the transaction British Land is taking an early surrender of the currentlease. Surrender will coincide with Henderson occupying its new head officeaccommodation which, after fitting out, is likely to be late 2008. Following surrender, British Land is proposing to develop a significantly largeroffice building on the site at 4 Broadgate. Design work is being progressed anda planning application is expected by mid 2008. This is the first stage ofunlocking future redevelopment potential at Broadgate under the Broadgate 2020master planning exercise. Stephen Hester, Chief Executive, British Land said: "I am delighted that acompany of Henderson's standing has chosen 201 Bishopsgate and to remain atBroadgate as a key customer of British Land. This deal is excellent news forboth companies and is further endorsement of our commitment to providing wellspecified and well timed new developments and working with our occupiers to helpthem meet their changing business needs." Roger Yates, Chief Executive of Henderson said: "201 Bishopsgate will provide afirst class working environment for our staff. We are pleased to have securedthis long term solution for our London headquarters in the next generation ofBroadgate buildings." Notes to Editors €201 Bishopsgate provides a total 408, 000 sq ft and is on programme for completion in February 2008. The architects are Skidmore Owings & Merrill and the construction manager is Bovis Lend Lease. •Henderson is taking the entire of levels 8, 9, 10 and 12. This represents around 30 per cent of the building. •Henderson Group plc is the holding company of the investment management group Henderson Global Investors. Founded in 1934, Henderson Global Investors is a leading independent global asset management firm providing a wide range of investment products and services to institutions and individuals in Asia, Europe and North America. Henderson Global Investors manages over £61.9 billion (as at 31 December 2006) across all asset classes and employs around 900 people worldwide. 201 Bishopsgate will be the new head office. •The existing Broadgate Estate, which totals 4 million sq ft, is relatively low rise. Broadgate 2020 is British Land's master planning exercise to assess in broad terms the future redevelopment potential of the estate. Currently the master planning has identified a total uplift across the Estate of up to 1.2 million sq ft. •British Land's letting agents are Jones Lang Lasalle and Knight Frank. 10 May 2007 Media contacts: British Land:Laura De Vere, Director of Corporate Communicationstel. 020 7467 2920/mobile 07739 292920 Henderson Global investors:Mav Wynn, Head of Investor Relationstel. 020 7818 5135 Richard Acworth, Head of Corporate Communicationstel. 020 7818 4222 email: Henderson Press Office [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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