29th Jun 2009 08:30
29 June 2009
TERRACE HILL GROUP PLC
("Terrace Hill" or the "Company")
TERRACE HILL GROUP SECURES LETTING TO AFEX
AT 129 WILTON ROAD, VICTORIA
Terrace Hill Group plc (AIM: THG), a leading UK property development and investment group, today announces that it has secured a letting to Associated Foreign Exchange Inc ("AFEX") for the entire fifth floor of its 129 Wilton Road office development in London, SW1.
Relocating from St James' Square, AFEX, the global foreign exchange service provider, has taken 8,100 sq ft at the building on a 10-year lease, at a total rent of £364,500 per annum, as its new London headquarters. The new letting follows E.ON's relocation of its UK headquarters to the building, occupying 19,857 sq ft over three floors, signed in September 2008.
129 Wilton Road is a 62,000 sq ft Grade A office redevelopment, completed in March 2008. Arranged over eight storeys of offices and including ground floor retail space and a 12-storey residential block to the rear, the mixed-use scheme, which is located in the heart of Victoria opposite Victoria Station, offers some of the best available Grade A office accommodation in the area. Following this latest letting, 50% of the floors within the office component of the scheme have now been let, with four floors of approximately 8,000 sq ft remaining.
Commenting on the letting, Philip Leech, Chief Executive of Terrace Hill, said:
"This letting, in a challenging market, is an endorsement of the high quality of our development in Wilton Road, Victoria. It further demonstrates our ability to continue to attract tenants to our buildings in the face of stiff competition and add value across our development portfolio and for our shareholders."
- Ends-
For further information, please visit www.terracehill.co.uk or contact:
Terrace Hill Tel: 020 7631 1666 Philip Leech/Jon Austen
Oriel Securities (Nominated Adviser) Tel: 020 7710 7600
Richard Crawley
Daniel Conti
Financial Dynamics Tel: 020 7831 3113Stephanie Highett/Olivia Goodall [email protected]
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