Plantation Place
British Land Co PLC
3 October 2001
3rd October, 2001
Major Pre-Let At Plantation Place
British Land lets 375,000 sq ft to Accenture
The British Land Company PLC has pre-let 375,000 sq ft of accommodation to
Accenture in the 507,000 sq ft first phase of the Plantation Place development
in the City of London.
The letting covers 352,702 sq ft of offices and 22,722 sq ft of basement
storage accommodation. The rent for the offices is £54 per sq ft and for the
storage £15 per sq ft. Accenture also has the option to call for the
remaining space in the building.
Construction is expected to start immediately with completion of the building
in the first half of 2004.
A further phase of Plantation Place on the Mincing Lane frontage is the
subject of a fresh planning application and Accenture also has a right of
first refusal over this building.
The deal will facilitate consolidation of the Accenture real estate portfolio
to the City as a number of leases within the Accenture portfolio expire in
2004.
In addition to the offices, Plantation Place will provide some 26,500 sq ft of
retail space.
John Ritblat, Chairman of British Land, said:
'We are delighted to have secured a significant letting for this high profile
site to a leading provider of management and technology services. Plantation
Place is a major part of our development programme in London and the letting
is a healthy indicator for the current City of London office market'.
Willie Jamieson, Director of Accenture, said:
'Accenture is delighted to secure highly efficient, cost effective and
flexible space in a preferred location which will meet our consolidated space
needs in 2004 and allow for future growth of the business.'
Contacts
The British Land Company PLC:
John Ritblat, Chairman tel: 020 7467 2831/2829
John Weston Smith, Finance Director tel: 020 7467 2899
Finsbury:
Faeth Finnemore tel: 020 7251 3801
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