14 September 2012 MEDIA RELEASE
CITY OF LONDON LANDMARK SECURES SECOND PRELET
Land Securities Group PLC (‘Land Securities’) and Canary Wharf Group plc (‘Canary Wharf Group’) have exchanged contracts on the second pre-let at 20 Fenchurch Street, EC3, bringing the office space to 19% pre-let, with a further 5% in solicitors’ hands.
Kiln Group Limited, the international specialist insurance and reinsurance underwriting group, has taken 78,000 sq ft. This letting follows insurer Markel International’s decision in June to take 51,000 sq ft on levels 26 and 27 at 20 Fenchurch Street as its new London headquarters.
When complete, the 525ft tall, 690,000 sq ft building will offer 37 storeys of top-quality, efficient and flexible office space to a supply-constrained London market. The building’s design spectacularly flares outwards from a narrow base, uniquely offering larger floorplates and spectacular 360 degree views higher up the building.
Colette O’Shea, Head of Development at Land Securities said: “This is good progress for 20 Fenchurch Street approximately 20 months before completion, and further testament to the building’s attractive, intelligent and efficient design.”
Richard Archer, Head of Leasing at Canary Wharf Group added: ”20 Fenchurch Street is located in the heart of the City’s vibrant insurance sector. We are very pleased to have secured another top-quality insurance sector tenant well ahead of completion. Construction is progressing nicely and we look forward to delivering 20 Fenchurch Street on time and within budget in early 2014.”
Newton Perkins advised Kiln; Knight Frank and CBRE advised Canary Wharf Group and Land Securities.
For further information, please contact:
John Garwood / Hamish McDougall
Canary Wharf Group plc
Tel: 020 7418 2326
Donal McCabe/ Naomi Curtis
Land Securities Group plc
Tel: 020 7024 5460/ 5411
Notes to Editors
About 20 Fenchurch Street, London, EC3:
• 20 Fenchurch Street is being jointly developed by Land Securities and Canary Wharf Group. Canary Wharf Contractors Limited, a wholly owned subsidiary of Canary Wharf Group, has been appointed as Construction Manager.
• Construction of 20 Fenchurch Street, EC3 officially started on Tuesday 18 January 2011.
• The building’s architect is Rafael Viñoly. The building spectacularly flares outwards from a narrow base. It is topped by a sky garden.
• When complete, the 525 ft, 37 storey, 690,000 sq ft building will provide world class office space, with each floor offering 360° of unrivalled views.
• The building will bring Grade A office space to a supply constrained central London market of 2014, as more than 3m sq ft of leases per annum are expected to expire or see breaks potentially exercised during the next four years.
• The floor plates will range from 14,000 – 29,000 sq ft, providing both flexible high specification accommodation with the larger floor plates on the higher floors, appealing to a wide range of prospective tenants.
About Canary Wharf Group plc
Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail and leisure facilities in central London. Over the past 20 years the Group has regenerated derelict wharves into the Canary Wharf Estate, one of the world’s premier business and shopping districts, constructing over 15m sq ft of office space; more than any other company in London. These buildings are occupied by 100,000 people.
The Group’s current projects away from Canary Wharf include the Shell Centre on the South Bank, which is a joint venture with Qatari Diar and 20 Fenchurch Street in the City of London, which is in a joint venture with Land Securities. These follow the successful completion of Pan Peninsula and Drapers Gardens.
Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 200 shops, bars, cafes and restaurants including many of Britain’s leading brands.
Canary Wharf Group has been named one of the Sunday Times 60 Best Green Companies in the UK since 2008, was the Property Week Offices Developer of the Year 2010 and also won the Christie’s 2010 Award for Best Corporate Art Collection and Programme at the International Art and Work Awards.
About Land Securities London
Land Securities is the UK’s largest commercial property company and a member of the FTSE 100. The company owns and manages more than 29 million sq ft of office, retail and residential space.