TNK-BP signs lease agreement for Western Gate business park in Moscow (RU)

The Western Gate project, whose exclusive marketing agent is Jones Lang LaSalle, is located on Belovezhskaya Street not far from the crossing of the MKAD loop road and Mozhayskoe Highway. The project comprises three separate buildings with total floor area of circa 64,000 m² and is due in "shell and core" state by the end of 1Q 2009. The business park is developed by Centurion Group known for projects including the Europark shopping mall as well as Ekaterinovka cottage complex and some others.

TNK-BP, one of the leading Russian oil companies, has signed a Preliminary Lease Agreement to secure approximately 37,000 m² of office accommodation in two dedicated buildings at the Western Gate Business Park complex. This provides TNK-BP with an option to consolidate some or all of its Moscow-based staff in a modern, A Class office in a favored location to the west of the city, thereby accommodating the Company's foreseeable growth aspirations.

Vitaly Smagin, Chairman of the Board of Directors of Centurion Group, commented: "We are very pleased such a company as TNK-BP has signed a Preliminary Lease Agreement for our business park. We hope after TNK-BP we will succeed in attracting other major tenants with prominent brands."

Charles Boudet, National Director, Head of Office Agency at Jones Lang LaSalle, said: "At the moment this is the largest office premises lease deal. This transaction is clear evidence of an already-established trend in the market, namely migration of offices beyond the city center boundaries. The attractiveness of the business park is an opportunity for a tenant to choose high quality office premises with extensive opportunities for open-plan floor layouts, consistent transport access and a parking lot. In addition it should be pointed out that the business park offers attractive rates to tenants, compared to those in the center of Moscow."

Simon Bennett, Executive Vice President for Business Support Services at TNK-BP, said: "We are pleased to have secured this option on quality business park office accommodation. This can enable us to bring together staff scattered over many different office premises in Moscow. It can also help us to accommodate our Moscow-based daughter companies and provide office accommodation for contractors servicing our ever-growing business in Russia."

Source: Jones Lang LaSalle

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