The Leadenhall Building
28/01/2014 by Buildington

British Land and Oxford Properties have announced that their 50:50 joint venture has signed an Agreement for Lease with the world’s leading serviced office business, Servcorp, for level 30 at The Leadenhall Building.

Level 30 provides 11,851 sq ft with the letting on a rent of £72.50 psf for a 15 year term and a lessee’s break option at 10 years. The initial rent free period is 24 months and there will be a further rent free period of six months if the option to break is not exercised.

Servcorp, based in Sydney, provides businesses with flexible space in the world’s most desirable buildings, with The Seagram Building, Park Avenue, New York, IFC 2 Hong Kong, Trust Tower Marunouchi, Tokyo and Emirates Towers, Dubai, among its 140 locations.

The letting is the first single floor letting in the Leadenhall Building. The distinctive tapered profile is unique in London and creates floorplates ranging from 21,000 sq ft on level 5 to 6,200 sq ft on the top floor (level 45). This offers occupiers a wide range of opportunities and is a key strength of the leasing strategy for the upper part of the building.

Tim Roberts, Head of Offices at British Land said: “Servcorp is a brand that is synonymous with the world’s premier buildings, We are delighted they have selected The Leadenhall Building to expand their London operations.”

Mike Rayner, Head of Development at Oxford Properties said: “Servcorp’s decision to take space at The Leadenhall Building underlines that this is a real trophy building; not just in the context of London, but globally. It is a fitting start to the year in which Leadenhall will reach practical completion. Welcoming Servcorp to the building is also an effective kickstart to the next phase of our leasing programme, where we look forward to attracting a broad community of specialist and corporate occupiers to the building’s varied floorplates.”

Warren James, Manager, International Property Portfolio at Servcorp said: “This deal represents a substantial expansion of our London business. Servcorp is highly selective in its choice of buildings and our objective is always to be in the best in town: The Leadenhall Building is certainly that. It will provide our clients with accommodation of very high quality in a building of real distinction.”

Source: British Land www.britishland.com

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