Royal Bank of Scotland Agrees to Pre-Let of Bankside Offices in London

Easier Property - August 8, 2007

Land Securities Group PLC has announced that it has exchanged contracts with the Royal Bank of Scotland plc (“RBS”) for the pre-letting of the Bankside 2&3 development on London's Southbank, SE1.

RBS will take a 20 year lease occupying a total of 377,910 sq ft over the two buildings, with rental levels of £46.50 being achieved for the best space. This transaction completes the office space within the 940,000 sq ft mixed-use estate. Building 1, the Blue Fin Building, is occupied by IPC Media following its forward sale in May 2004.

Located behind Tate Modern, Bankside 123 has created a diverse and vibrant environment for the area’s expanding business community, retailers and residents. The trio of buildings set within interconnected public spaces will open up access from Southwark to the riverside.

CB Richard Ellis represented Land Securities and Drivers Jonas advised RBS. The retail element of the scheme is being marketed through CB Richard Ellis. Sphere: Related Content