28th Nov 2007 07:01
Quintain Estates & Development PLC28 November 2007 28 November 2007 Quintain Estates and Development PLC ("Quintain") Quintain and Lend Lease achieve significant progress at Greenwich with announcement of major pre-let Quintain and Lend Lease have launched a major new business district at London'sGreenwich Peninsula with the announcement of a deal with Transport for London. The agreement will see Transport for London take a 20 year lease on 135,000 sqft of space in the new Peninsula Central business district, overlooking The O2and just one stop from Canary Wharf. Work will start on the Terry Farrell &Partners-designed office before the end of the year, with Transport for Londontaking occupation in 2009. Transport for London will also secure an option on a further 60,000 sq ft ofspace at Peninsula Central as part of the deal. Peninsula Central is a 3.5 million sq ft business district at the heart of theGreenwich Peninsula redevelopment and will sit alongside 10,000 new homes, 150new shops and restaurants and 48 acres of open green space - all just 20 minutesfrom the West End. The site of the new Transport for London office, which will also include asecond 110,000 sq ft building for commercial and retail lettings, will bedeveloped by Lend Lease and Quintain. The two companies will establish a new 50:50 joint venture for the acquisition and development of the site, and each will invest a maximum of £60 million. Quintain will meet this commitment through a combination of debt and equity. Nick Shattock, deputy chief executive of Quintain, said: "To have launched a newmajor commercial centre for London with such a significant letting to aregulatory authority, with the potential for several satellite businesses, is aremarkable coup. We are convinced that our ambition and willingness to deliverthe Mayor's climate change policy with cutting edge technology was key to thismajor re-location." Nigel Hugill, chairman of Lend Lease Europe, said: "This new commercial districtmarks another exciting evolution in the London workplace. Peninsula Centraloccupies a strategic position, offering new and flexible space close to CanaryWharf and within a stone's throw of the City and West End. We are delighted thatTransport for London has recognised its potential and are confident that otherhigh-profile tenants will follow." Charles Stafford, Transport for London Director of Group Property andFacilities, said: "Transport for London is delighted to be one of the firsttenants in this significant regenerative development. This move is a key part ofour business strategy to improve the overall quality and productivity of theworkspace we provide for our staff, yet also achieve significant efficiencies,in this case obtaining top quality office accommodation at an excellentlocation, giving us true value for money." John Walker, Chief Executive of English Partnerships, said: "As the principalland owner we are pleased to see the mix of development on the GreenwichPeninsula extending beyond housing. Transport for London will be providing asignificant number of jobs and the balance of the letting will help secure atrue mixed use development." International property consultancy Jones Lang LaSalle is the appointed adviseron office space at Greenwich Peninsula. TfL is advised by Drivers Jonas. For images and further information, contact: Quintain Estates and DevelopmentNick Shattock/Rebecca WorthingtonTel: +44 (0)20 7495 8968 Financial DynamicsStephanie Highett/Dido Laurimore/Laurence JonesTel: +44 (0)20 7831 3113 Editors' Notes About Greenwich Peninsula The £5 billion regeneration of 190 acres of Greenwich Peninsula led by LendLease and Quintain Estates and Development PLC working with EnglishPartnerships, will create a thriving new riverside community for London over thenext 15 years. • 10,000 new homes in distinct residential neighbourhoods • 24,000 permanent jobs • Peninsula Central - a new business district for London • 150 new shops and restaurants • 1.6 miles of river frontage; the distance between Waterloo and London Bridge • 48 acres of open spaces and parks; the size of Green Park • Extensive new community and leisure facilities • The O2 entertainment destination delivered and operated by AEG Europe • Excellent transport links, situated in zone 2 on the jubilee line • Aspiration for the highest environmental standards for new buildings. For further information please visit www.greenwichpeninsula.co.uk About Lend Lease Lend Lease, listed on the Australian Stock Exchange, is a leading real estatespecialist which creates and manages real estates assets around the world. Inthe UK its business is focussed primarily in the delivery of large scale mixeduse schemes which lead to the regeneration of major urban sites.www.lendlease.com About Quintain Estates and Development PLC Quintain is a leading property investment and development company specialisingin strategic property acquisition, redevelopment, asset management andregeneration across the UK. Quintain operates through three businesses - fundmanagement, property investment and urban regeneration. Quintain is listed on the London Stock Exchange and is a FTSE 250 company. www.quintain-estates.com About English Partnerships English Partnerships is the Government's national regeneration agency. Its aimis to deliver high quality, sustainable growth in England. The Agency isoverseeing the regeneration of Greenwich Peninsula and has invested over £225million in the last ten years. English Partnerships and the Housing Corporation are working with the Departmentfor Communities and Local Government to establish the proposed Homes andCommunities Agency. www.englishpartnerships.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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