20 Fenchurch development is now over 50% let!
The joint venture developing 20 Fenchurch Street, comprising Land Securities Group PLC (‘Land Securities’) and Canary Wharf Group plc (‘Canary Wharf Group’) announces that Liberty Syndicate Management Ltd (Liberty Syndicates) and Liberty Mutual Insurance Europe Limited (Liberty Mutual Insurance Europe) have together agreed to take 117,336 sq ft at 20 Fenchurch Street. Following the letting, 53% of the building’s office space is let, which equates to 51% by income.
Liberty Syndicates and Liberty Mutual Insurance Europe are two subsidiaries of Liberty Mutual Insurance, a global insurance business headquartered in Boston. In total, Liberty Syndicates will occupy floors 21-23 comprising 66,321 sq ft while Liberty Mutual Insurance Europe will occupy floors 10-12 comprising 51,015 sq ft. The letting follows the announcement of RSA’s agreement in January 2013 to lease and consolidate its existing London premises and relocate to 20 Fenchurch Street.
Kaela Fenn-Smith, Head of Leasing at Land Securities said:
“We continue to see strong interest at 20 Fenchurch Street with over a year to go until completion. Occupiers continue to be drawn to the scheme attracted by the modern and efficient space in the right location.”
Richard Archer, Head of Leasing at Canary Wharf Group said:
”Our design and construction team are doing a superb job delivering the most technologically advanced building under construction in London today. Our investment in this building has enabled us to secure six high profile tenants to date.”
Nick Metcalf, President and Managing Director of Liberty Syndicates said:
“We are delighted to be able to consolidate our London offices. 20 Fenchurch Street is an iconic building and still enables us to be close to Lloyd’s and our brokers and clients.”
Sean Rocks, President and Managing Director of Liberty Mutual Insurance Europe said:
“As a key player within the London insurance market, having a base in a well-located, modern and sustainable working environment is a critical factor in the successful operation of our business. The proximity of 20 Fenchurch Street to our broker partners plus the scope it offers for efficient and flexible working, represent an ideal opportunity for us.”
Canary Wharf Group and Land Securities were advised by CBRE and Knight Frank.
Source: Land Securities