Land Securities Group PLC announces two separate lettings totalling 3,842 m² at its new City of London office building for Landflex, 140 Aldersgate Street, EC1, three months after purchasing the completed development, which had lain empty for more than a year since it was built.
Vibrant Media Ltd has taken 658 m² on the 7th floor and flightbookers Ltd will occupy a total of 2,989 m² over the 4th, 5th and 6th floors, with an option on a further floor, bringing its employees under one roof from two locations. Both companies have taken the Landflex form of lease at an RPI linked inclusive rent which includes a core services package. The total annual income generated by both lettings will be £1.3m per annum and both companies have taken a ten-year term with a five year break option.
Mike Hussey, Managing Director, London Portfolio commented on the lettings: "Landflex has let almost half of the building within three months of its purchase, which demonstrates that Landflex is addressing a real need in the city market - proper lease term flexibility with cost certainty. With only 3,945 m² available at 140 Aldersgate Street, we are actively searching for additional office buildings in the City for Landflex."
Amenities at 140 Aldersgate Street will be enhanced with the introduction of a 'Business Club' in line with the offer at other Landflex buildings. The Club, which aims to open in the new year will provide customers and local occupiers with a coffee lounge and allow them to book meetings and boardroom facilities by the hour or day.
Land Securities represented itself in both transactions. Vibrant Media Ltd was represented by Stirling Ackroyd and Flightbookers Ltd was represented by Andrews Denford & Boyd.
Source: Land Securities