British Land Co. plc (BLND.L) and Oxford Properties Tuesday said their 50:50 joint venture has exchanged a binding agreement for lease with Amlin plc for a pre-letting of 111,000 sq ft at The Leadenhall Building, London, EC3.
Amlin is expected to occupy levels 18-24 and level 45 of the 47-storey building on 20 year lease terms with tenant break options providing an average lease term of 14 years to first break. The average rent is expected to be 62.75 pounds per sq ft.
Commenting on the development, Chris Grigg, Chief Executive of British Land said, "This significant second letting confirms The Leadenhall Building as a world-class building. We are very pleased to be in business with a company of the standing of Amlin, a market leader in the insurance sector."
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