1st Aug 2007 07:01
Development Securities PLC01 August 2007 Building 1000 at Development Securities' Royals Business Park sold to the London Borough of Newham The sale of the long leasehold interest in the 252,000 sq. ft. Building 1000 atDevelopment Securities' Royals Business Park has been agreed with the LondonBorough of Newham for £75m. Newham has acquired the building for its back office function and will occupy150,000 sq. ft. The acquisition is subject to one existing lease for 11,600 sq.ft. on the 1st floor East building and a further four deals, totalling 52,500sq. ft. that are also under offer, leaving 37,900 sq. ft. available which Newhamwill be seeking to lease. The Royals Business Park is being developed by Development Securities and theLondon Development Agency. Building 1000 is new Grade A accommodation completedspeculatively in June 2004 by Development Securities plc, Standard LifeInvestments and the London Development Agency. For further information please contact:Mallika Basu/Richard Evans 020 7630 1411Michael Marx 020 7828 4777 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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