NEWS ARCHIVE

CENTRE POINT | 05/08/07

Centre Point fully let for the first time in its history

Targetfollow Group, the owners of Centre Point, has announced a further key milestone letting at the 32-storey iconic office tower that dominates London’s West End skyline.

The Central Saint Giles Limited Partnership, comprising Legal & General and Mitsubishi Real Estate, has signed a three-year lease to occupy the 20th floor of Centre Point, resulting in the building now being fully let for the first time in its history.

The floor comprises of 4,378 sq ft (407 sq m) and has been let at an annual rent of £55 psf, the highest to date.

Since acquiring the building in October 2005 Targetfollow has invested hugely in an extensive programme of modernisation in order to improve and extend the amenities it is able to offer tenants.

The landmark office tower is now very much a symbol of contemporary twenty-first century London’s business capability, reflected in the pattern of ever-increasing rents businesses are willing to pay in order to secure the sought-after facilities and distinctive location.

Ian Fox, Targetfollow’s Executive Director of Property, said: “Recognising Centre Point’s potential to become a premier business location was simple, and being able to witness our vision become a reality is terribly satisfying.

“The rental value of the office space has been increasing consistently and we are confident this trend will continue as new floors become available as older leases expire and the ongoing programme of refurbishment enters phase three, which will give us four newly refurbished floors, including the 28th and 30th floors which also boast magnificent views.”