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NEWS - SPRING 2008
In a more uncertain economy,
Newton Perkins' all embracing property services have realised significant
benefits for a wide range of clients:-
In a headline City leasing transaction, solicitors, Holman Fenwick & Willan,
advised by Newton Perkins have agreed an off market pre-letting of a 72,000 sq
ft (6,690 sq m) headquarters in Crutched Friars, EC3 at a rent of c.£45psf. The
owner, LaSalle Investment Management will deliver a fully refurbished building
in late 2008 to an enhanced "Category A" standard thereby minimising our
client's moving costs.
Hermes Real Estate is now marketing the freehold investment interest of 8
Eastcheap for >£32m after completion of the office lettings at the 45,000 sq ft
(4,200 sq m) building by Newton Perkins at rents in the high £40's per sq ft.
The loss adjusting arm of Charles Taylor Consulting, advised by Newton Perkins
will be moving part of their London operations to 88 Leadenhall Street, EC3 (c.
16,000 sq ft). US software company, GoldenSource Corporation will be re-locating
their London HQ to Land Securities's Thomas More Square complex near Tower
Bridge.
Successful letting campaigns have brought about the letting of 16,000 sq ft
(1,486 sq m) in One America Square for majority occupier, BMS Group; whilst a
further 20,000 sq ft (1,858 sq m) has been let for Mars Pension Trustees at Ibex
House, Minories at a late £30's rental level. 155 Fenchurch Street is now being
marketed for pre-letting by Newton Perkins on behalf of Walbrook Land. The
37,000 sq ft (3,437 sq m) Grade A refurbishment will complete in the first
quarter of 2009.
The firm has been instructed on a wide variety of rent reviews and lease
renewals as a result of the rental growth seen in the buoyant 2006/2007 letting
market. Clients include Citigroup, HSB Engineering and TLT solicitors.
The value of Newton Perkins' rating service has been proven in outstanding
savings negotiated for a wide variety of occupier clients across the Capital. In
addition many clients have been alerted to the costly impact of the removal of
Empty Property Rates relief wef 1st April. We are busy advising on means to
mitigate the burden for affected clients.
The firm's Management/Facilities Management department has been successful in
winning new instructions at 118/119 Fenchurch Street from Linville Ltd, and at 123 Minories from Pantheom Properties.
New letting instructions have been won in Crutched Friars (for London &
Regional), Alpha House, 24a Lime Street (for CCLA) and at Fitzwilliam House, St
Mary Axe (for Universities Superannuation Scheme).
Instructions to advise in the
acquisition of new offices have been received from financial, insurance and
service sector occupiers including The Noble Group, Bank of London & The Middle
East, Fidelity Information Services and Torus Insurance.
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