Press releases
News International take more space at Thomas More Square, E1
21 June 2010Land Securities and The Cadillac Fairview Corporation Limited, co-owners of Thomas More Square, E1, announce that a further 70,000 sq ft of space has been let to News International for a term of up to 10 years.
News International will take the majority of 2 Thomas More Square (54,878 sq ft) and a further 15,333 sq ft of space at 3 Thomas More Square generating a further £2 million per annum in rent.
This latest letting takes total occupancy of the estate to just under 99% with News International occupancy at Thomas More Square over 260,000 sq ft.
Thomas More Square is a business village on the edge of the Square Mile, adjacent to St Katherine Docks and minutes from London City Airport. The property was purchased by Land Securities in 2007 and a 50% share was subsequently sold to The Cadillac Fairview Corporation Limited, a wholly owned subsidiary of the Ontario Teachers’ Pension Plan.
Commenting on this letting, Robert Noel, Managing Director of the London Portfolio said; “We have been clear that one of our priorities is to build our income across the business and the income generated by this letting demonstrates our focus. News International is a world class business and we are delighted to have such a high profile occupier at this location.”
The letting was transacted directly between Land Securities and News International.
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For further information, please contact:
Land Securities
Donal McCabe / Melissa Winsor
Tel: +44 (0) 20 7024 5460 / 5079
Notes to editor:
Cadillac Fairview
The Cadillac Fairview Corporation Limited is one of North America's largest investors, owners and managers of commercial real estate. For more than 50 years Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management.
Cadillac Fairview focuses on developing and managing high quality office properties and regional shopping centres in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $17 billion and nearly 50 million square feet of leasable space, Cadillac Fairview and its affiliates own and manage 83 properties across North America, including some of Canada's landmark developments.
For more information visit www.cadillacfairview.com
Cadillac Fairview is wholly-owned by the Ontario Teachers' Pension Plan, which invests to secure the retirement income of 289,000 active and retired teachers in Ontario.