DRW agrees terms at The Leadenhall Building
DRW Trading Group agrees terms at The Leadenhall Building
British Land and Oxford Properties announce today that DRW Trading Group ("DRW") has signed an Agreement for Lease at The Leadenhall Building. The building is now nearly 90% let or under offer with just five more floors still available.
DRW is a principal trading organisation headquartered in Chicago, with offices in Montreal, New York, San Francisco and Singapore. The company has chosen to relocate its London operations to The Leadenhall Building.
It is the seventh transaction to complete at the building this year, following commitments from Brit Insurance, Spanish banking group Banco Sabadell, Kames Capital, shipping broker Affinity, IT provider Ipsoft and Rogers Stirk Harbour + Partners, the building's architects. The Leadenhall Building is already home to such businesses as global serviced office provider Servcorp and specialist pensions insurer Rothesay Life.
Tim Roberts, Head of Offices at British Land, said:
"Since completion, we have seen strong demand for the upper floors of The Leadenhall Building, translating into some standout deals with high calibre occupiers. We look forward to welcoming DRW, and our other confirmed occupiers to the building over the coming months."
Mike Rayner, Head of Development, Oxford Properties, said:
"The Leadenhall Building is not only one of London's landmarks, it provides state of the art, highly resilient office accommodation which is essential for a propriety trading business like DRW. We are very pleased they have decided to relocate their European headquarters to the building."
DTZ and JLL advised British Land and Oxford Properties. Cushman & Wakefield advised DRW.
Enquiries:
Investor Relations
Sally Jones, British Land 020 7467 2942
Media
Pip Wood, British Land 020 7467 2838
Sally Saadeh, Oxford Properties 020 7822 2844
Andrew Scorgie, FTI Consulting 020 3727 1458
Notes to Editors
About British Land
We are one of Europe's largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality commercial property, focused on retail locations around the UK and London offices. We have total assets in the UK, owned or managed of £18.9 billion (of which British Land share is £13.6 billion), as valued at 31 March 2015. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups. Our objective is to deliver long-term and sustainable total returns to our shareholders and we do this by focusing on Places People Prefer. People have a choice where they work, shop and live and we aim to create outstanding places which make a positive difference to people's everyday lives. Our customer orientation enables us to develop a deep understanding of the people who use our places. We employ a lean team of experts, who have the skills to translate this understanding into creating the right places, and we have an efficient capital structure which is able to effectively finance these places.
UK Retail assets account for 55% of our portfolio. As the UK's largest listed owner and manager of retail space, our portfolio is well matched to the different ways people shop today. We are focused on being the destination of choice for retailers and their customers by being the best provider of spaces and services. Comprising around 22 million sq ft of retail space across shopping parks, superstores, shopping centres, department stores and leisure assets, the retail portfolio is modern, flexible and adaptable to a wide range of formats.
Our Office and Residential portfolio, which accounts for 45% of our portfolio is focused on London. We have an attractive mix of high quality buildings in well managed environments and a pipeline of development projects which will add significantly to our portfolio. Increasingly, our Offices are in mixed-use environments which include retail and residential elements. Our 6.7 million sq ft of high quality office space includes Regent's Place and Paddington Central in the West End and Broadgate, the premier city office campus (50% share).
Our size and substance demands a responsible approach to business. We believe leadership on issues such as sustainability helps drive our performance and is core to the delivery of our overall objective of driving shareholder value and creating Places People Prefer.
Further details can be found on the British Land website at www.britishland.com
About Oxford Properties Group
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,750 employees and C$34bn of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford was acquired in 2001 by OMERS, one of Canada's largest pension funds with over C$72bn in assets. Oxford has regional offices in Toronto, London and New York, each with investment, development and management professionals who have deep real estate expertise and local market insight.
For more information about Oxford visit: www.oxfordproperties.com.
This information is provided by RNS
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