GRP lets at 240 Blackfriars Road

RNS Number : 1568H

Great Portland Estates PLC

15 May 2014

 



Great Ropemaker Partnership lets at 240 Blackfriars Road, SE1

15 May 2014

The Great Ropemaker Partnership ("GRP"), a 50:50 joint venture between Great Portland Estates plc ("GPE") and Ropemaker Properties, the property nominee of the BP Pension Fund, announces the letting of 31,140 sq. ft. at its striking new development at 240 Blackfriars Road, SE1.

Ramboll UK Ltd ("Ramboll"), the leading multi-disciplinary engineering company, has taken the first to third floors at the 236,700 sq. ft. 240 Blackfriars Road, SE1. They will join UBM plc and law firm Boodle Hatfield who took pre-lets in January 2012 and October 2013 respectively.  This latest deal means 73% of the office space in the building is now let just six weeks after completion of the building works.

Ramboll have signed three fifteen year leases with tenant only options to break at year ten.  The total rent will be £1,463,627 per annum, equating to £47.00 per sq. ft.  Ramboll will receive 33 months rent free and pay GRP the equivalent of 12 months rent, should they serve the lease breaks.

Commenting on this letting, Neil Thompson, Portfolio Director of GPE said, "We are delighted to welcome Ramboll into the GRP portfolio.  The early letting success at 240 Blackfriars Road is a positive endorsement of the quality of the building and we have strong interest in the remaining 60,000 sq. ft." 

Contacts:

Neil Thompson - Portfolio Director, Great Portland Estates plc            020 7647 3029

Gordon Simpson - RLM Finsbury                                                       020 7251 3801

 

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