6th Aug 2007 07:00
Land Securities Group Plc06 August 2007 6 August 2007 Land Securities Group PLC ("Land Securities")LAND SECURITIES ACHIEVES 100% OFFICE PRE-LET OF BANKSIDE DEVELOPMENT Land Securities Group PLC ("Land Securities / Company") today announces that ithas exchanged contracts with the Royal Bank of Scotland plc ("RBS") for thepre-letting of the Bankside 2&3 development on London's Southbank, SE1. RBS will take a 20 year lease occupying a total of 377,910 sq ft over the twobuildings, with rental levels of £46.50 being achieved for the best space. Thistransaction completes the office space within the 940,000 sq ft mixed-useestate. Building 1, the Blue Fin Building, is occupied by IPC Media followingits forward sale in May 2004. Mike Hussey, Land Securities' Managing Director, London Portfolio commented onthe letting: "Our decision to build Bankside 123 was based on our belief that the Banksidearea has always held the potential to be a diverse and exciting location forcommercial, retail and residential users. Royal Bank of Scotland now joins IPCMedia at our Bankside complex along with a strong list of retailers. Tate Modernis expanding and new residential schemes are adding to the area'sattractiveness. We are delighted that RBS have recognised that in theircommitment to the scheme and look forward to welcoming them into their newoffices." Located behind Tate Modern, Bankside 123 has created a diverse and vibrantenvironment for the area's expanding business community, retailers andresidents. The trio of buildings set within interconnected public spaces willopen up access from Southwark to the riverside. CB Richard Ellis represented Land Securities and Drivers Jonas advised RBS. The retail element of the scheme is being marketed through CB Richard Ellis. For further information on the scheme visit www.bankside123.co.uk -Ends- For further info, please contact: Mel Winsor/Mike Hussey Stephanie Highett/Dido LaurimoreLand Securities Group PLC Financial DynamicsT +44 (0)20 7413 9000 T +44 (0)207 831 3113 Notes to editor: Land Securities is the UK's leading real estate investment trust. Our nationalportfolio of commercial property, worth many billions of pounds, includes someof Britain's best-known shopping centres, such as the Birmingham Bullring andGunwharf Quays in Portsmouth, as well as London landmarks such as the PiccadillyLights and Westminster City Hall. We are leading urban renaissance through ourbillion pound development programme, transforming Exeter, Bristol and Cardiffcity centres as well as key sites in Central London. We are also one of theleading names in property outsourcing and through urban community developmentare involved in long-term, large-scale regeneration projects in the south-east. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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