21st Apr 2006 09:00
Land Securities Group Plc21 April 2006 21 April 2006 LAND SECURITIES GROUP PLC ("Land Securities"/"Group") Land Securities pre-lets EC2 development to International law firm Land Securities Group PLC announces that it has exchanged an Agreement for Leasewith Eversheds LLP for the pre-letting of One Wood Street, EC2 for its Londonheadquarters. Eversheds has taken an 18 year lease on all of the 165,000 sq ft (15,329 sq m)office accommodation. The global law firm will occupy all eight floors, with anoption to lease back 20,000 sq ft (1,858 sq m) to Land Securities. In additionto the office space, the building incorporates 16,000 sq ft (1,490 sq m) ofground floor retail which is being let separately. Purchased by Land Securities for £36.1m in August 2003, the redevelopment of OneWood Street started in 2005 at a build cost of circa £50m. The Cheapside areawill see further transformation from the redevelopment of the One New Changescheme, which achieved planning consent in January this year and could startearly next year. Mike Hussey, Land Securities' Managing Director, London Portfolio commented; "Eversheds is an important transaction for us and the City market. It underpinsour view that the provision of high quality office accommodation in the City ofLondon will attract interest from occupiers despite the significant availabilityof existing stock." Cornelius Medvei, Managing Partner of Eversheds London said: "These areprestigious and modern premises that will give Eversheds partners and staff awonderful environment in which to work and welcome our clients. This emphasisesour commitment to making sustained long term investment in London and we aredelighted with the contracts that we have signed with Land Securities." Land Securities was advised by Knight Frank and Atisreal represented Eversheds. Strutt & Parker are the appointed agents on the retail element. -Ends- For further information please contact: Mike Hussey / Emma Denne Land Securities Tel: 0207 413 9000 Stephanie Highett/Dido Laurimore Financial Dynamics Tel: 020 7831 3113 NOTES TO EDITORS Land Securities Land Securities is a FTSE 100 company and has been leading the UK's commercialproperty industry for over 60 years. The Group is the UK's largest quotedproperty company and its activities involve investment, development, managementand the provision of property services to a wide range of occupiers. Itsbusiness focus is on three markets, retail property, London offices and propertyoutsourcing. It manages over 70 million sq feet of commercial accommodation. It has an £11.5 billion investment portfolio stretching the length and breadthof the United Kingdom from Portsmouth in the south to Aberdeen in the north. Itowns 32 shopping centres, 28 retail parks and more than 11 million sq ft ofcommercial property in Central London. It has a further 3,000 properties undermanagement through its property outsourcing business. The Group employ 1,500 people across the UK. Its major office locations areLondon, Leeds and Glasgow. Eversheds LLP Eversheds LLP and its worldwide associate offices have over 2,000 legal andbusiness advisers providing services to the private and public sector businessand finance community. Access to all these services is provided through ournetwork of international offices. Eversheds combines local market knowledge andaccess with the specialisms, resources and international capability of one ofthe world's largest law firms. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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