The Great Ropemaker Partnership (a 50:50 joint venture between GPE and BP Pension Fund) has leased the remaining two office floors at 240 Blackfriars Road securing a rent of £61.00 per sq. ft. on level 7 to hurleypalmerflatt Ltd and £63.00 per sq. ft. to Demandware UK Ltd on level 8. These two lettings will generate annual rent of £1.5 million across 23,900 sq. ft. and conclude the 222,200 sq. ft. office leasing campaign, resulting in an average void across the building of just over three months.

Great Portland Estates have been marketing for sale the 10 residential units at the 240 Blackfriars Road scheme which completed in April and, to date six units have been sold.

Source: Great Portland Estates plc, Half Year Results 2014, 13. November 2014

The Great Ropemaker Partnership ("GRP"), a 50:50 joint venture between Great Portland Estates plc ("GPE") and Ropemaker Properties, the property nominee of the BP Pension Fund, announces the letting of 31,140 sq. ft. at its striking new development at 240 Blackfriars Road, SE1.

Ramboll UK Ltd (“Ramboll”), the leading multi-disciplinary engineering company, has taken the first to third floors at the 236,700 sq. ft. 240 Blackfriars Road, SE1. They will join UBM plc and law firm Boodle Hatfield who took pre-lets in January 2012 and October 2013 respectively. This latest deal means 73% of the office space in the building is now let just six weeks after completion of the building works.

Ramboll have signed three fifteen year leases with tenant only options to break at year ten. The total rent will be £1,463,627 per annum, equating to £47.00 per sq. ft. Ramboll will receive 33 months rent free and pay GRP the equivalent of 12 months rent, should they serve the lease breaks.

Commenting on this letting, Neil Thompson, Portfolio Director of GPE said, “We are delighted to welcome Ramboll into the GRP portfolio. The early letting success at 240 Blackfriars Road is a positive endorsement of the quality of the building and we have strong interest in the remaining 60,000 sq. ft.”

Source: GPE www.gpe.co.uk

240 Blackfriars reached practical completion this week. With 225,000 square feet of high-performance workspace above ground-level retail units and a new public realm at the south end of Blackfriars Bridge, it will be a hive of activity once tenants move in next month. More information about the project can be found on its website 240Blackfriars.com.

Source: AHMM www.ahmm.co.uk

The Great Ropemaker Partnership ("GRP"), a 50:50 joint venture between Great Portland Estates plc ("GPE") and Ropemaker Properties, the property nominee of the BP Pension Fund, announces that it has pre-let 23,608 sq. ft. to Boodle Hatfield in its development at 240 Blackfriars Road, London SE1.

GRP commenced construction on the 20 storey building in January 2012 with practical completion scheduled for March 2014. The 236,555 sq. ft. development will provide 222,239 sq. ft. of offices, 4,556 sq. ft. of retail space and 9,760 sq. ft. of residential in ten private apartments in an adjacent building.

Boodle Hatfield, a leading law firm, will occupy the ninth and tenth floors and join UBM plc who leased 105,648 sq. ft. in January 2012. Boodle Hatfield will take two ten year leases paying a total of £1,180,400 per annum, equating to £50 per sq. ft. and will receive 25 months rent free from lease commencement.

Commenting on the transaction, Neil Thompson, Portfolio Director of GPE said, “This second pre-letting results in 58% of the office space being let so far. We look forward to welcoming Boodle Hatfield to 240 Blackfriars Road, which will be a high quality, prominent office building on completion in March 2014”.

Richard Maughan, Senior Partner at Boodle Hatfield said, “We are looking forward to moving our main office to Bankside which we believe will help us to improve further the service that we provide to our clients and to continue to attract the highest quality talent in our field. 240 Blackfriars will offer a light and modern working environment at the heart of a vibrant business and cultural district. Together with our offices in Mayfair and Oxford, these premises will provide us with a fantastic base from which to continue the growth and development of Boodle Hatfield”.

Source: GPE www.gpe.co.uk 23. October 2013

New photos of 240 Blackfriars Road office development!

240 Blackfriars Road - New on Buildington!