6th Jun 2005 07:42
Hammerson PLC06 June 2005 For immediate release - Monday, 6 June 2005 Hammerson and Henderson Global Investors Sign Lease at Moorhouse, London EC2 Moor House Limited Partnership, a joint venture between Hammerson plc andHenderson Global Investors, has signed a lease with HVB Group, the internationalbanking group, for 9,300 m(2) (100,000 ft(2)) of office accommodation atMoorhouse, London EC2. HVB Group will occupy five floors of the 30,100 m(2) (324,000 ft(2)) officebuilding. The total rent is £4.5 million per annum, reflecting an average rentof £45.50 per ft(2) and a top rent of £47.50 per ft(2). The lease term is 20years, with a tenant's break option on the fifteenth year anniversary and a rentfree period of 32 months. The lease is subject to upwards only rent reviewsevery five years. In November 2004, Hammerson acquired an additional one-third interest in theMoor House Limited Partnership, which owns Moorhouse, increasing its interest inthe building to 66.7%. The other one-third interest in the partnership is heldby Henderson Global Investors on behalf of Pearl Assurance. Designed by Foster and Partners, Moorhouse occupies a prominent site at thejunction of London Wall and Moorgate in the City of London. The landmark officebuilding is a 30,100 m(2) (324,000 ft(2)), 17 storey building, providing floorsof between 1,250 m(2) and 1,905 m(2) (13,500 ft(2) and 20,500 ft(2)). Moorhousewas completed in November 2004 at a total development cost to Hammerson ofapproximately £123 million. John Richards, Chief Executive of Hammerson, commented: "I am delighted to announce this letting, which represents some 30% of theoffice accommodation. Moorhouse is an outstanding property with a highspecification and in a first class location. We are experiencing an encouraginglevel of interest from potential tenants for the remaining space." Hammerson and Henderson Global Investors were advised by Jones Lang LaSalle andStrutt & Parker. HVB Group were advised by Drivers Jonas. For further information: John Richards Tel: 020 7887 1000Chief Executive, Hammerson plc Christopher Smith Tel: 020 7887 1019Director of Corporate Affairs, Hammerson [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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