25th Oct 2005 10:26
Land Securities Group Plc25 October 2005 25 October 2005 Land Securities Group PLC ("Land Securities" / "the Group") Land Securities signs two occupiers for Landflex City office Land Securities Group PLC ("Land Securities") announces two separate lettingstotalling 39,200 sq ft (3,842 sq m) at its new City of London office buildingfor Landflex, 140 Aldersgate Street, EC1, three months after purchasing thecompleted development, which had lain empty for more than a year since it wasbuilt. Vibrant Media Ltd has taken 7,082 sq ft (658 sq m) on the 7th floor andFlightbookers Ltd will occupy a total of 32,172 sq ft (2,989 sq m) over the 4th,5th and 6th floors, with an option on a further floor, bringing its employeesunder one roof from two locations. Both companies have taken the Landflex formof lease at an RPI linked inclusive rent which includes a core services package.The total annual income generated by both lettings will be £1.3m per annum andboth companies have taken a ten-year term with a five year break option. Mike Hussey, Managing Director, London Portfolio commented on the lettings: "Landflex has let almost half of the building within three months of itspurchase, which demonstrates that Landflex is addressing a real need in the citymarket - proper lease term flexibility with cost certainty. "With only 42,460 sq ft (3,945 sq m) available at 140 Aldersgate Street, we areactively searching for additional office buildings in the City for Landflex." Amenities at 140 Aldersgate Street will be enhanced with the introduction of a 'Business Club' in line with the offer at other Landflex buildings. The Club,which aims to open in the new year will provide customers and local occupierswith a coffee lounge and allow them to book meetings and boardroom facilities bythe hour or day. Land Securities represented itself in both transactions. Vibrant Media Ltd wasrepresented by Stirling Ackroyd and Flightbookers Ltd was represented by AndrewsDenford & Boyd. -Ends- For further information please contact: Emma DenneLand Securities Group PLC+ 44 20 7024 5460 Stephanie Highett/Dido LaurimoreFinancial Dynamics+44 (0) 20 7831 3113 Notes to Editors Land Securities Group PLC Land Securities is a FTSE 100 company, quoted on the London Stock Exchange. Ithas been at the forefront of the UK's commercial property industry for 60 years.Today, the Group maintains its market leading position as the UK's largestquoted property company by providing commercial accommodation and propertyservices to a wide range of occupiers. The Group's objective is to createattractive and sustainable returns for its shareholders through its activities,which include property investment, development and property outsourcing. Land Securities holds a market leading position in three areas of the UKcommercial property market: • Retail,• London offices and• Property outsourcing Its £9.4 billion investment portfolio includes more than 810,000 sq m of officespace in Central London and substantial retail holdings in Oxford Street,Tottenham Court Road and Notting Hill Gate. In addition the Group owns 31shopping centres and 32 retail parks located across the UK. It has a substantial development programme with a number of development projectsincluding major retail-led urban regeneration schemes and Central Londonmixed-use developments. The Group is also master planning one of Europe'slargest regeneration schemes in Kent Thameside. For more information on Land Securities visit www.landsecurities.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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