13th Apr 2005 09:00
Land Securities Group Plc13 April 2005 13 April 2005 Land Securities Group PLC ("Land Securities" / "Group") Land Securities unveils premier retail line-up at the heart of a new Victoria Land Securities announces that it has exchanged contracts with a number ofretailers for space totalling 30,500 sq ft (2,833 sq m) at Cardinal Place,introducing an impressive retail offer to the heart of Victoria. The retail element of the development, which is anchored by a 37,200 sq ft(3,400 sq m) Marks & Spencer, is now over 80% pre-let. The lettings, whichinclude 10 retailers new to Victoria, will create a seven-day trading locationfor people working and living in the area. Commenting on the new lettings, Mike Hussey, Managing Director, Land SecuritiesLondon Portfolio, said: "In the past Victoria has been something of a missedretail opportunity. The shopping experience at Cardinal Place provides awelcome transformation for this part of the West End set alongside some of themost innovative commercial and public space to be developed in London for manyyears." Retail rental levels in the development are in the region of a £210 per sq ftplus turnover provisions at an average lease term of 15 years. The total incomeper annum for the retail element of the scheme is expected to exceed £4.5million. The retailers on the Victoria Street frontage of the scheme will include Zara, Top Shop/Top Man, Jones the Bootmaker, Monsoon, Goldsmiths, Molton Brown, Hawes& Curtis and Accessorize. Other lettings currently in solicitors' handsinclude a purpose built cafe and restaurant quarter opening in late summer 2005. The retail line up is now as follows: Marks & Spencer (incl food hall) 37,200 sq ft 3,400 sq mZara 6,332 sq ft 588 sq mTop Shop/Top Man 4,100 sq ft 381 sq mMolton Brown 1,075 sq ft 100 sq mMonsoon 3,607 sq ft 335 sq mJones the Bootmaker 1,994 sq ft 185 sq mAccessorize 1,055 sq ft 98 sq mGoldsmiths 2,148 sq ft 200 sq mHawes & Curtis 1,578 sq ft 147 sq mThorntons 686 sq ft 64 sq mSpecsavers 1,598 sq ft 148 sq mBoots The Chemist 4,212 sq ft 391 sq mLloyds Bank 2,062 sq ft 192 sq m For further information please contact: Melissa WinsorLand SecuritiesTel: 020 7413 9000 Dido Laurimore/Stephanie HighettFinancial DynamicsTel: 020 7831 3113 Note to Editors 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 £8.9 billion investment portfolio includes office space in Central Londonand substantial retail holdings in Oxford Street, Tottenham Court Road andNotting Hill Gate. In addition the Group owns 18 shopping centres and 25 retailparks 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 masterplanning one of Europe'slargest regeneration schemes in Kent Thameside. The Group leads the market in property outsourcing where, through LandSecurities Trillium, it provides accommodation and property-related services tothe Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,DVLA and through a joint venture, Telereal, to BT. The Group is committed to environmental initiatives and community involvementrecognised by the Group's inclusion in the BiTC Corporate Responsibility Index,FTSE4Good Index and the Dow Jones Sustainability Index. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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