Business
Derwent London secures Gresse
Derwent London secures Gresse.
About this update from Derwent London Plc
[{"type":"text","content":"\n RNS Number : 7208A Derwent London PLC 14 October 2009 \n \n\n14 October 2009\nDerwent London plc (\"Derwent London\" / \"Company\")\nDerwent London secures Gresse Street pre-let\nDerwent London has secured a 13,093 sq ft (1,216 sq m) pre-let at the Charlotte Building, 17 Gresse Street, London, W1 to Unanimis Consulting Limited (\"Unanimis\"), one of London's largest digital advertising networks.\nUnanimis will take the top two floors of the seven-storey, 47,000 sq ft (4,400 sq m) Charlotte Building on a 10-year lease at £578,451 per annum.\nThe rent on the sixth floor is £45 per sq ft (£484 per sq m) and £43.50 per sq ft (£468 per sq m) on the fifth floor. These levels are in line with the June valuation. The tenant has an option to break in December 2013. An initial rent free period equivalent to 12 months rent was granted with an additional 10 months if the break is not exercised.\nThe letting is in advance of the property's launch at the end of the month and the remaining five floors of this new contemporary building, set around a landscaped courtyard, are attracting letting interest.\nThe Charlotte Building together with properties in nearby Fitzrovia, are in a strategically important area of the West End for Derwent London, where its holdings total over one million sq ft.. Future plans include the refurbishment and redevelopment of existing buildings and investment in local services to regenerate this improving London village.\nJohn Burns, Chief Executive, Derwent London, said:\n\"We are pleased to have achieved a pre-let in the Charlotte Building to Unanimis, part of Orange France Telecom. They are existing tenants of the group occupying 7,400 sq ft (690 sq m) in a nearby property, whose lease was due to expire at the end of the year. We are delighted that they have decided the Charlotte Building meets their expansion requirements. This is also a further step in Derwent London's programme to rejuvenate its buildings to create desirable spaces in which to live and work.\"\n\nFor further information please contact:\nJohn Burns, Chief Executive, Derwent London: Tel 020 7659 3000\nKate Holgate, James Rossiter, Brunswick Group: Tel 020 7404 5959\n\n\n\n\nNotes to editors:\nDerwent London plc\nDerwent London plc is the largest central London focussed REIT with an investment p...