Max Property Group PLC announces major pre-let at Commodity Quay, St Katharine Docks (UK)

Max Property announced that it has agreed to pre-let 75,780 ft² (approx. 7,040 m²) of office accommodation at Commodity Quay on a 15 year lease to Clarksons Plc, the world's leading provider of integrated shipping services. Rentals range from £43psf to £50psf with higher rents achieved on the higher floors. The 140,000 ft² (approx. 13,006 m²) new refurbishment at St Katharine Docks contains 127,000 ft² (approx. 11,798 m²) of offices, is nearing completion and will be launched in June 2014.
The letting follows the recent 22,000 ft² (approx. 2,043 m²) pre-let also at Commodity Quay to Six Degrees Group, the specialist integrated managed communications service company, and several lettings at the nearby 210,000 ft² (approx. 19,509 m²) International House, which is now fully let. The scheme designed by Buckley Grey Yeoman has also attracted celebrity chef Tom Aikens to one of the two feature restaurant units at quay level, where a new Tom's Kitchen will open in July. The remaining 27,000 ft² (approx. 25,083 m²) of Grade A office space at Commodity Quay comprises the top two floors plus 5,000 ft² (approx. 464 m²) at first floor level and will be offered to the market through letting agents Savills, Ingleby Trice and H2SO when the building is launched in June 2014. It represents the only available remaining space at the 500,000 ft² (approx. 46,451 m²) docks which Max Property originally acquired in 2011 with significant voids. Ben Walford a partner in Prestbury Investments LLP, Max Property Group's investment advisor, commented: "We are very pleased to welcome Clarksons Plc, the global leader in shipping services, who have recognised Commodity Quay's exemplary quality coupled with its unique location in the heart of London. The strategy for St Katharine Docks has been to attract a community of different sector occupiers to create a diverse, vibrant and prosperous business and visitor community. Clarksons fully reflect this strategy." MPG were advised by Savills and Clarksons Plc by CBRE and J Peiser Wainwright.
Source: Max Property Group PLC

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