Re. Landflex Lettings
Land Securities Group Plc
25 October 2005
25 October 2005
Land Securities Group PLC ('Land Securities' / 'the Group')
Land Securities signs two occupiers for Landflex City office
Land Securities Group PLC ('Land Securities') announces two separate lettings
totalling 39,200 sq ft (3,842 sq m) at its new City of London office building
for Landflex, 140 Aldersgate Street, EC1, three months after purchasing the
completed development, which had lain empty for more than a year since it was
built.
Vibrant Media Ltd has taken 7,082 sq ft (658 sq m) on the 7th floor and
Flightbookers Ltd will occupy a total of 32,172 sq ft (2,989 sq m) over the 4th,
5th and 6th floors, with an option on a further floor, bringing its employees
under one roof from two locations. Both companies have taken the Landflex form
of lease at an RPI linked inclusive rent which includes a core services package.
The total annual income generated by both lettings will be £1.3m per annum and
both companies have taken a ten-year term with a five year break option.
Mike Hussey, Managing Director, London Portfolio commented on the lettings:
'Landflex has let almost half of the building within three months of its
purchase, which demonstrates that Landflex is addressing a real need in the city
market - proper lease term flexibility with cost certainty.
'With only 42,460 sq ft (3,945 sq m) available at 140 Aldersgate Street, we are
actively searching for additional office buildings in the City for Landflex.'
Amenities at 140 Aldersgate Street will be enhanced with the introduction of a
'Business Club' in line with the offer at other Landflex buildings. The Club,
which aims to open in the new year will provide customers and local occupiers
with a coffee lounge and allow them to book meetings and boardroom facilities by
the hour or day.
Land Securities represented itself in both transactions. Vibrant Media Ltd was
represented by Stirling Ackroyd and Flightbookers Ltd was represented by Andrews
Denford & Boyd.
-Ends-
For further information please contact:
Emma Denne
Land Securities Group PLC
+ 44 20 7024 5460
Stephanie Highett/Dido Laurimore
Financial Dynamics
+44 (0) 20 7831 3113
Notes to Editors
Land Securities Group PLC
Land Securities is a FTSE 100 company, quoted on the London Stock Exchange. It
has been at the forefront of the UK's commercial property industry for 60 years.
Today, the Group maintains its market leading position as the UK's largest
quoted property company by providing commercial accommodation and property
services to a wide range of occupiers. The Group's objective is to create
attractive and sustainable returns for its shareholders through its activities,
which include property investment, development and property outsourcing.
Land Securities holds a market leading position in three areas of the UK
commercial property market:
• Retail,
• London offices and
• Property outsourcing
Its £9.4 billion investment portfolio includes more than 810,000 sq m of office
space in Central London and substantial retail holdings in Oxford Street,
Tottenham Court Road and Notting Hill Gate. In addition the Group owns 31
shopping centres and 32 retail parks located across the UK.
It has a substantial development programme with a number of development projects
including major retail-led urban regeneration schemes and Central London
mixed-use developments. The Group is also master planning one of Europe's
largest regeneration schemes in Kent Thameside.
For more information on Land Securities visit www.landsecurities.com
This information is provided by RNS
The company news service from the London Stock Exchange
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