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Nabarro advises on one of the largest lettings of the year

25 September 2009

Nabarro LLP has advised Land Securities Group PLC and The Cadillac Fairview Corporation Limited on the leasing of Thomas More Square, E1, to News International for a term of up to 10 years.

Thomas More Square is a business village on the edge of the Square Mile, adjacent to St Katherine Docks and near 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.

News International will occupy from the ground to the 10th floor of 3 Thomas More Square totalling some 186,696 sq ft, a basement area and 75 car spaces providing a total rent of £4.2 million per annum. The lease offers an initial six-month rent free period and a further 12 months available after five years.

Real estate partner Nicholas Vergette led the team at Nabarro, assisted by Caroline Hankins. Dion Panambalana at Lovells advised News International.

Commenting on the transaction, real estate partner Nicholas Vergette said:

“In a difficult market it was great to be involved in one of the largest lettings of the year, we hope to see many more as the market picks up.”

If you would like any further information or have any queries please contact

Charlotte Collins-White
charlottecw@lansons.com
T +44 (0)20 7566 9706