Land Securities secures another letting at One New Change (UK)

SMBC Nikko Capital Markets Limited will be relocating its London business into One New Change, the City's principal mixed-use scheme, adding to the already impressive list of tenants.

One New Change

One New Change.

SMBC Nikko Capital Markets Limited, which signed a lease for 34,558 ft² (approx. 3,200 m²) in March 2011, is a wholly-owned subsidiary of Sumitomo Mitsui Banking Corporation and is responsible for the derivatives and securities operation in Europe.

The office element of One New Change is now 73% let with the average office rent for completed lettings to date standing at £57.50 per ft². The retail element was fully let on opening in October 2010.This is the third high profile office letting since January, following CME Group, and Friends Provident which took more than 38,000 ft² and 48,500 ft² respectively. K&L Gates, the international law firm took 120,000 ft² as a pre-let and is expected to move in during the summer.

Commenting on the lettings, Robert Noel, Managing Director, London Portfolio, Land Securities, said: "Four major companies have now decided to relocate their London businesses to One New Change - three in as many months. The scheme has real momentum." One New Change covers 550,000 ft² over eight floors, with 60 shops and restaurants operating over 220,000 ft². When fully let, the scheme will house approximately 3,000 office workers over 330,000 ft².

Savills and DTZ advised Land Securities.

Source: Land Securities

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