Thomas More Square lets up

By Annemarie Lipton - Thursday, May 28, 2015 10:44

The last 93,000 sq ft of Rupert Murdoch’s News International leases have been underlet at Thomas More Square.

The remaining 11,692 sq ft space at Land Securities 5 Thomas More Square has been leased to Technology firm Equitini.

The company has taken the last space from News International on a short term lease expiring June 2016 at £15 per sq ft. Electric Word had recently taken 11,022 sq ft from News International on a lease expiring June 2021 at £15 per sq ft.

Digital Window, UK Payments and Integreon have taken a total of 54,878 sq ft at 2 Thomas More Sq at £15 per sq ft.

A further 15,300 sq ft was taken in 3 Thomas More Sq by Svenska Handelsbank by way of a surrender to Land Securities and regrant at c.£40 per sq ft. 

Land Securities purchased the freehold of 576,189 sq ft at Thomas More Square for £83.5m in Q4 2014 with planned refurbishment and landscaping of common areas. Other tenants included Ipsos Mori, Mitsui O.S.K Lines and Carlson Wagonlit Travel.

News International moved out of Fleet Street in 1986 to Wapping and subsequently sold the site to Berkeley Group for £150m in 2012. The company have since taken c.430,000 sq ft on a 30-year lease at Sellar Property and The state of Qatar’s 25 London Bridge.

Chris Sutcliffe, partner at Newton Perkins has said: “We are delighted at the success, it has been a great team effort between CBRE, Andrew Sell at REM and Newton Perkins.

Newton Perkins and CBRE were the disposing agents on behalf of News International.

alipton@costar.co.uk

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