20th Mar 2007 07:02
Derwent London PLC20 March 2007 20 March 2007 Derwent London plc ("Derwent London" / the "Company") DERWENT LONDON COMPLETES FURTHER £1 MILLION OF LETTINGS IN MIDTOWN Derwent London announces today that it has secured four new lettings totalling2,780 sq m (29,929 sq ft) in Hatton Garden, Midtown, one of its key centralLondon villages. The lettings will generate annual income of £984,695. As a result of these lettings, the Company is pleased to confirm that TheJohnson Building, its 13,900 sq m (150,000 sq ft) office building in HattonGarden, and its 3,053 sq m (32,860 sq ft) office building at St Cross StreetCourtyard, Midtown are now both fully let, bringing the total annual rent rollon these two buildings to £6.03 million. • Syzygy UK Ltd has taken 11,066 sq ft (1,028 sq m) on the second floorof the Johnson Building for 10 years at £470,305 per annum, reflecting £42.50per sq ft rising to £45.00 per sq ft, with 15 months rent-free. This representsan increase from the levels of between £35 and £40 per sq ft achieved in lastyear's lettings to Grey Advertising, Faber Maunsell and Thomson Scientific Ltd. • At St Cross Street Courtyard, to the rear of The Johnson Building,11,704 sq ft (1,015 sq m) has been let on the ground and lower ground floors toTM Lewin, the London based shirtmakers on a 10-year lease at £265,000 per annum,reflecting £32.50 per sq ft at ground level and £18.50 per sq ft at lowerground, with nine months rent free. • Just Giving, the leading charity fundraising website, has taken 4,808sq ft (446 sq m) on the first floor of St Cross Street. They have taken a10-year lease at £168,280 per annum (£35 per sq ft), with six months rent free. • A further 2,351 sq ft (218 sq m) has been let on the third floor at StCross Street to Hargreaves Associates, global landscape architects and planners. Hargreaves has taken a five year lease at £81,110 per annum, based on £34.50per sq ft. John Burns, Chief Executive of Derwent London, commented: "Both of thesebuildings are situated in the heart of London's Midtown, an area that has becomea hub of creative industries and that we have identified as one of London'simproving villages. We are very pleased to have secured these lettings in whatcontinues to be a strong letting environment." -ENDS- For further information please contact: Derwent London Tel: 020 7659 3000John Burns / Simon Silver Financial Dynamics Tel: 020 7831 3113Stephanie Highett/Dido Laurimore This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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