27th Apr 2007 10:22
McKay Securities PLC27 April 2007 McKAY SECURITIES PLC PRESS RELEASE Lettings at Dacre House, Dacre Street, London, SW1 Following the comprehensive refurbishment of Dacre House, Victoria, McKaySecurities PLC has completed two lettings totalling 5,165 sq ft of officeaccommodation with a combined contracted rent of £236,000 per annum. Thebuilding, which was acquired by McKay in 1997 has 13,550 sq ft of officeaccommodation on lower ground and five upper floors, with the refurbishmentincluding the remodelling of the reception and the conversion of surplus plantrooms into additional floor space. Aviate Global LLP, a hedge fund manager, has taken a ten year FRI lease of thefifth floor (1,860 sq ft) with a tenant's break clause at the end of the fifthyear, at a rent of £95,000 per annum. The lower ground and first floors, totalling 3,305 sq ft have been let to RGCJenkins & Co, Patent Agents, on similar lease terms at a rent of £136,000 perannum, which equates to a rental value for the first floor of £49 psf. Commenting on the lettings, Simon Perkins, Managing Director of McKay SecuritiesPLC said "the availability of refurbished floor space at Dacre House hasgenerated considerable interest from local occupiers and from those looking foraffordable quality from the West End. We are pleased to welcome both companiesto the building at terms which support our confidence in the scheme, and we areencouraged by the level of interest in the three remaining floors". Mellersh & Harding represented McKay, and Adams Burnett represented RGC Jenkins& Co. Background Information McKay Securities PLC is a Real Estate Investment Trust specialising in thedevelopment and refurbishment of quality commercial buildings within establishedand emerging growth areas of Central London and the South East of England.Completed projects are retained and managed for long term growth within theGroup's portfolio, valued in excess of £285m (at 31st March 2006). Contact McKay Securities PLC - 0118 950 2333Simon Perkins, Managing Director Mellersh & Harding - 020 7499 0866Jonathan Stern 27th April 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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