Prime City office redevelopment over 55% let

Development Securities welcomes three new tenants to City scheme at 10 St Bride St

Article posted: 02 Nov 2011

Legal firm Goodman Derrick LLP, the International Bar Association and energy consultancy Gas Strategies have all recently signed up for newly redeveloped Grade A office space in the City of London, EC4, at 10 St Bride St.

The 55,000 sq ft prime redevelopment by leading property investor and developer Development Securities on behalf of Corpus Sireo, was completed last year and provides typical floors of circa 9,000 sq ft. Corpus Sireo is the investment adviser of Sireo Immobilienfonds No. 4 SICAV-FIS.

New tenants include law firm Goodman Derrick LLP who have taken 16,000 sq ft, the International Bar Association with 8,300 sq ft and Gas Strategies who will occupy 3,500 sq ft. The lower ground retail unit is also under offer to a restaurant operator.

BNP Paribas Real Estate and Jones Lang LaSalle advised Development Securities and Corpus Sireo. Daniel Watney, Montagu Evans and CBRE advised the respective tenants.

Just last week DevSec announced that Scottish Widows Investment Partnership Property Trust has committed £50m forward funding to the development of DevSec’s speculative Hammersmith Grove scheme which is set to provide 275,000 sq ft of primarily office space in West London.

In addition, earlier in October DevSec entered into an option agreement to purchase office space in Southwark, SE1 at Algarve House which lends itself to a number of possible development options including the creation of new Grade A office space on the Southbank.

For breaking news relating to office space in Central London follow us on http://twitter.com/officespacenews

Posted by Julie