BUILDING 1000: FIRST OCCUPIER AGREED
Kelway Ltd. (UK), the IT solutions provider, has taken 10,347 sq ft on the 1st floor East in Building 1000, The Royals Business Park, London E16 on a 10 year lease at £19.00 per sq ft.
Building 1000 is the 252,000 sq ft new Grade A accommodation completed speculatively in June 2004 by Standard Life Investments, Development Securities plc and the London Development Agency.
Building 1000, the £70m landmark first phase of the Royals Business Park, jointly developed by Development Securities PLC, Standard Life Investments and the London Development Agency completed in Summer 2004.
Martin McGuire, Investment Director at Standard Life Investments comments: "This is a swift and strong validation of our changed leasing strategy. We are delighted to welcome Kelway as our first occupier. We are also in discussions with a number of other parties for suites and floors in the East building and hope to make further announcements shortly."
Simon Hesketh, Development Securities plc added: "The change in our leasing strategy for Building 1000 is in response to the significant demand for high specification flexible office space in the Docklands area. We are now offering the East Building in units from 4,500 sq. ft. upwards with a quoting rent of under £20 per sq. ft. per annum."
Knight Frank and AtisReal acted on behalf of Standard Life Investments/Development Securities plc; Goldstein Leigh acted on behalf of Kelway (UK) Ltd.
