British Land and Oxford Properties announce today two new lettings at The Leadenhall Building to global energy company Petredec and Fidelis Insurance.
LONDON, 2015-9-16 — /EPR Retail News/ — Petredec, which buys, sells and distributes Liquefied Petroleum Gas, has selected The Leadenhall Building as the location for its European headquarters. The company has signed a ten year lease to occupy 9,970 sq ft on Level 35 of the building.
Fidelis, a global insurance and reinsurance risk carrier, will occupy Level 34 of the building, totalling 10,345 sq ft. The company has signed a ten year lease.
There are now just five floors still available at The Leadenhall Building. Aon and Amlin, which signed pre-lets for 191,000 sq ft and 111,000 sq ft respectively, have this summer completed their phased moves into the building, joining six other companies already in occupation.
Tim Roberts, Head of Offices at British Land, said: “Our strategy to lease the upper floors post-completion has been proved to be the right one, with nearly 200,000 sq ft let since last Summer, and the building achieving record rents for The City of London. These lettings underline The Leadenhall Building’s position as a London landmark in the heart of one of the world’s pre-eminent financial centres.”
Chris Carter Keall, Head of Asset Management at Oxford Properties, said: “The range of floorplates at The Leadenhall Building has given us a clear leasing advantage, and been a major factor in attracting occupiers from a variety of industry sectors, alongside financial services. We have completed 11 lettings since Practical Completion in 2014, which serves to highlight that the decision to commence construction in 2011, has allowed us to deliver an exceptional building into a buoyant occupational market.”
DTZ and JLL advised British Land and Oxford Properties. Ashwell Rogers advised Petredec and Savills advised Fidelis Insurance.
|Sally Jones, British Land||020 7467 2942|
|Pip Wood, British Land||020 7467 2838|
|Sally Saadeh, Oxford Properties||020 7822 2844|
|Andrew Scorgie, FTI Consulting||020 3727 1458|
Notes to Editors
About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality commercial property, focused on retail locations around the UK and London offices. We have total assets in the UK, owned or managed of £18.9 billion (of which British Land share is £13.6 billion), as valued at 31 March 2015. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups. Our objective is to deliver long-term and sustainable total returns to our shareholders and we do this by focusing on Places People Prefer. People have a choice where they work, shop and live and we aim to create outstanding places which make a positive difference to people’s everyday lives. Our customer orientation enables us to develop a deep understanding of the people who use our places. We employ a lean team of experts, who have the skills to translate this understanding into creating the right places, and we have an efficient capital structure which is able to effectively finance these places.
UK Retail assets account for 55% of our portfolio. As the UK’s largest listed owner and manager of retail space, our portfolio is well matched to the different ways people shop today. We are focused on being the destination of choice for retailers and their customers by being the best provider of spaces and services. Comprising around 22 million sq ft of retail space across shopping parks, superstores, shopping centres, department stores and leisure assets, the retail portfolio is modern, flexible and adaptable to a wide range of formats.
Our Office and Residential portfolio, which accounts for 45% of our portfolio is focused on London. We have an attractive mix of high quality buildings in well managed environments and a pipeline of development projects which will add significantly to our portfolio. Increasingly, our Offices are in mixed-use environments which include retail and residential elements. Our 6.7 million sq ft of high quality office space includes Regent’s Place and Paddington Central in the West End and Broadgate, the premier city office campus (50% share).
Our size and substance demands a responsible approach to business. We believe leadership on issues such as sustainability helps drive our performance and is core to the delivery of our overall objective of driving shareholder value and creating Places People Prefer.
Further details can be found on the British Land website at www.britishland.com
About Oxford Properties Group
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,750 employees and C$34bn of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford was acquired in 2001 by OMERS, one of Canada’s largest pension funds with over C$72bn in assets. Oxford has regional offices in Toronto, London and New York, each with investment, development and management professionals who have deep real estate expertise and local market insight.
For more information about Oxford visit: www.oxfordproperties.com.