22 Dec 2008 07:01
22 December 2008Development Securities announces new lettings at PaddingtonCentral Development Securities announces that it has let a further 23,700 sq ft at its One Kingdom Street, PaddingtonCentral office development, funded by Aviva Investors and Union Investment Real Estate. This leaves just 13,300 sq ft available. The space has been let to Statoil UK, who already occupy two floors in the building, and to Development Securities itself, which will relocate next year from its present premises in Victoria. Michael Marx, Chief Executive of Development Securities, said "PaddingtonCentral is our flagship development, located in Central London, with excellent communications and that is where we should be". Following completion of these latest leases, Development Securities became entitled to receive its profit share from this phase of the development, in the region of £17 million. The company currently has a further 250,000 sq ft net under construction at PaddingtonCentral and has planning permission for a further 350,000 sq ft net.For further information, please contact:
Michael Marx Development Securities PLC
020 7630 1411 Richard Evans The Communication Group plc
07751 087 291
UAI.L (UAI)