British Land pre-lets London development The Leadenhall Building

British Land has signed a deal to pre-let its London development, The Leadenhall Building, a joint venture with Oxford Properties.

British Land has signed a deal to pre-let its London development, The Leadenhall Building, a joint venture with Oxford Properties.

The company has exchanged a binding agreement for lease with Amlin to pre-let 111,000 square feet (sq ft) of the office building, representing 20% of the total space.

The 610,000 sq ft tower is currently under construction and on track for completion in mid-2014.

Amlin will occupy levels 18-24 and level 45 of the 47-storey building on 20-year lease terms with tenant break options. It provides an average lease term of 14 years to first break.

Average rent will be £62.75 per sq ft. Amlin also has options to take up further space to 36,760 sq ft.

The Leadenhall Building is more than 51% pre-let following the agreement.

"This significant second letting confirms The Leadenhall Building as a world-class building," said Chief Executive of British Land, Chris Grigg.

"We are very pleased to be in business with a company of the standing of Amlin, a market leader in the insurance sector."

RD

Recommended

HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022
How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022

Most Popular

Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
Which investment trusts performed the best in 2021?
Investment trusts

Which investment trusts performed the best in 2021?

Shivani Khandekar runs through the top ten investment trusts of 2021 – and the worst performing trusts – and looks ahead to 2022.
7 Jan 2022
The booming jobs market points to inflation lasting for longer
Economy

The booming jobs market points to inflation lasting for longer

It’s a good time to be looking for a job, with plenty of vacancies and wages rising. But higher wagers are driving inflation up – and it’s not just a …
11 Jan 2022