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Benchmark Group PLC (BMK)


Tuesday 08 October, 2002

Benchmark Group PLC


Benchmark Group PLC
08 October 2002

                      LARGEST SOHO OFFICE LETTING IN 2002


Benchmark Group PLC ('Benchmark'), the central London property investment and
development company, announces that it has let 2,869 sq m (30,885 sq ft) of
offices on lower ground (353 sq m; 3,800 sq. ft.), second and third floors
(2,516 sq m; 27,085 sq ft) at Medius, a joint development with The Crown Estate
at 2 Sheraton Street in the heart of Soho to Cinesite (Europe) Limited ('
Cinesite') at a rent of £1,286,000 per annum, guaranteed by Kodak Limited.

The lease is for a term of fifteen years incorporating five yearly upward only
rent reviews and a tenant's option to break the lease at the tenth year and
contains tenant's full repairing and insuring covenants. The tenant has received
a rent free period of 18 months from 4th October 2002.

Cinesite, a wholly owned subsidiary of Kodak Limited, is a well-known major
visual effects company for the film industry, currently working on feature films
such as Harry Potter II, Tomb Raider II and Die Another Day, the latest James
Bond film.

The remaining accommodation totalling 1,858 sq m (20,000 sq ft) on ground and
first floors are available at a quoting rent of £49.50 per sq ft.

Nigel Kempner, Chief Executive of Benchmark, said: 'We are delighted to have
achieved this significant letting in our portfolio to a company with a first
class covenant.  This supports my view that, if modern landlord controlled space
is available in the West End, there are potential tenants in the market and we
are cautiously optimistic about future levels of demand from both occupiers and
investors over the next few years in the West End'.

For further information:

Benchmark Group PLC                                  Tavistock Communications
Nigel Kempner                                        Jeremy Carey
Tel: 020 7659 0500                                   Tel: 020 7600 2288                              [email protected]

Cinesite (Europe) Ltd
Helen Arnold
Tel: 020 7973 4000

                      This information is provided by RNS
            The company news service from the London Stock Exchange               XGGGDR                                                                                                                                                                                                                                                         

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