Insurance Firms Lead City Take-Up
A number of City lettings by Insurance Firms have taken place in 2012, affirming the importance of the Insurance sector to the leasing market in the City.
Jardine Lloyd Thompson have confirmed the biggest letting in the UK in 2012 by agreeing heads of terms for space totalling 280,000 sq ft at Minerva’s St Botolph building, for a 15 year term. 3 other firms have found space in recent weeks – Arthur J Gallagher placed the ground and seventh floors of Minerva’s Walbrook building under offer last month; Kiln placed 80,000 sq ft at 20 Fenchurch Street under offer; and Markel plans to move into 51,000 sq ft across 2 floors of 20 Fenchurch Street for a 20 year term at a rent of £65 per sq ft.
It is also reported that a further 6 deals are in the pipeline; insurance firms seeking space include RSA, Brit Insurance, Liberty Insurance and Amlin Insurance.
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