Property sale

British Land Co PLC
06 September 2005


6th September 2005



British Land sells 10 Fleet Place for £109.12 Million


The British Land Company PLC has sold 10 Fleet Place, London EC4, part of its
Ludgate Estate, to CIT for a gross price of £109.12 million. The building
comprises 180,000 sq.ft in 10 storeys and is held on a 999 year headlease at a
peppercorn rent from Network Rail. Tenants include Scottish Widows, Kroll, Dow
Jones, BTG and MCI Worldcom. Average length of unexpired term is 4 years and the
current income £6,674,000 per annum.

Also at Fleet Place, British Land currently retains its holding in One Fleet
Place let to Denton Wilde Sapte and has started work on its 128,000 sq.ft
Ludgate West development. As part of the development Ludgate Square will be
improved by substantial landscaping works.

DTZ represented British Land and Strutt & Parker represented CIT.


Contacts:

The British Land Company PLC
John Weston Smith Tel: [phone]
Robert Bowden Tel: [phone]

Finsbury
Ed Orlebar Tel: [phone]


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