25th Aug 2005 08:57
Hammerson PLC25 August 2005 For immediate release - Thursday, 25 August 2005 Hammerson and Kajima Secure Further Letting at One London Wall London Wall Limited Partnership, a 50:50 joint venture between Hammerson plc andKajima Europe BV, has agreed a lease with the law firm, Maclay Murray & Spens,for 2,300 m(2) (25,000 ft(2)) of office accommodation at One London Wall, LondonEC2. Maclay Murray & Spens will occupy space on the eighth and twelfth floors of the18,600 m(2) (200,000 ft(2)) office building. The total rent will beapproximately £1.1 million per annum, reflecting an average rent of £44 per ft(2). The lease term is 15 years, with a tenant's break option on the tenth yearanniversary and an average rent free period of 26 months. If the lease break isnot exercised, Maclay Murray & Spens will be granted a further 12 month rentfree period. Following this letting, a total of 11,750 m(2) (126,500 ft(2)) of space in thebuilding is now let. One London Wall, which provides 18,600 m(2) (200,000 ft(2))of high specification office accommodation, was completed in October 2003 at atotal development cost of approximately £90 million. John Richards, Chief Executive of Hammerson, commented: " I am delighted to welcome Maclay Murray & Spens to One London Wall, which isnow over 60% let. We are experiencing an encouraging level of interest frompotential tenants for the remaining space." Magnus Swanson, Chief Executive of Maclay Murray & Spens, said: "Concluding this deal with the London Wall Limited Partnership is a keydevelopment in our ongoing strategy of expansion through our London office. Thefirm's growth in London has been demonstrated clearly over the past year throughour merger with the City Law Partnership and our well-documented practice ofpursuing high-profile lateral hire opportunities. One London Wall is a superbbuilding, with high quality space in a very convenient location and it willprovide Maclay Murray & Spens with an excellent base for our planned futuregrowth in the City." Hammerson and Kajima were advised by DTZ and Morgan Pepper. Maclay Murray &Spens was advised by Montagu Evans. For further information: John Richards Tel: 020 7887 1000 Chief Executive, Hammerson plc Chris Smith Tel: 020 7887 1019 Director of Corporate Affairs, Hammerson plc [email protected] Katsumi Shibasaki Tel: 020 7465 0007 President and CEO, Kajima Europe BV Maclay Murray & Spens Tel: 08702 42 43 44 The Communications Business This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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