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St Martins buys the Willis Building in the City of London

Wed, 21 May 2008 12:00:00 GMT

International property investment and development company St Martins has exchanged contracts with British Land to acquire the iconic Willis Building, at 51 Lime Street and 25 Fenchurch Avenue, in the City of London for £400 million. The sale is due to complete in June.

Designed by architect Norman Foster and developed by British Land, the Willis Building is located in the centre of the City opposite the Lloyd’s building. The property totals 496,000 sq ft in two adjoining freehold buildings of 10 and 28 storeys, and includes four retail units.

Nigel Brown, Managing Director at St Martins, said: “The Willis building is one of the City’s most iconic developments. This is a tremendous addition to our London portfolio; a trophy building offering the potential for excellent long-term returns. We have an appetite for landmark buildings and this was a rare opportunity to secure one of London’s finest. We believe it is a great investment for St Martins, offering a guaranteed income stream and long-term value.”

“It also complements the assets we are seeking to acquire in the emerging markets. We anticipate that this will be the start of a very active period for us over the next two years.”

The Willis Building will add to St Martins’ London portfolio, which aside from London Bridge City, includes: 150 Cheapside, 5 Cheapside, 2 Gresham Street, 16 St. Martin’s le Grand, Adelaide House and Chambers Wharf.

Tim Roberts, Executive Director British Land and Head of Offices, said: “This is an exceptional building and the sale locks in attractive development profits. It also underlines our track record of delivering and letting developments profitably and allows us to recycle capital, reduce gearing and add to our war chest for future opportunities. As the largest transaction in the City since the onset of the credit crunch it underlines our confidence in rising investor interest for London property as value becomes more apparent.”

The offices are let in their entirety to the Willis Group on 25 year leases from 2007 and recently became their new European headquarters. The development was the biggest pre-let development under construction in the City in 2004. British Land will top up the rent free period up to the minimum uplift on the tower in 2012 at a total cost circa £60 million.

King Sturge advised St.Martins.

Notes to editors:

Media contact for St Martins: Richard Stocks, FD Tamesis: +44 (0)20 7269 9355 or +44 (0)7951 328475

Media contact for British Land: Laura De Vere +44 (0)7739 292920

Investor contact for British Land: Amanda Jones +44 (0)20 7467 2946

St Martins’ world-class residential development at Chambers Wharf, London, gets the go ahead

Mon, 07 Jul 2008 12:00:00 GMT

International property development company St Martins’ planning application for the striking redevelopment of a four-acre brownfield site at Chambers Wharf, Chambers Street, London SEI6 has been approved.

Southwark Council’s planning committee last night passed a resolution to grant detailed planning permission for the redevelopment of the site located near Tower Bridge – one of the last remaining development opportunities on the bank of the River Thames, in South London. Discussions continue about the Section 106 provisions.

The scheme has been designed by award-winning architect Ian Simpson and comprises 596 residential units – 189 of which will be affordable with some commercial and retail units at ground level, fronting Chambers Street. The residential units will be accommodated in six buildings, with four buildings on the riverside and two buildings on Chambers Street. The buildings will range from 6 to 14 storeys high.

Chambers Wharf is one of the greenest proposed residential developments in London. The scheme design has achieved an ‘Excellent’ EcoHomes rating and includes combined heat and power plants, ground source heating/cooling, solar panels for water heating, 13 wind turbines – mainly positioned along the bank of the river – and rainwater harvesting. There will be significant enhancements to the public realm, including a new riverside walkway, recreation areas and open spaces.

Lindsey Robinson, Development Director at St Martins, comments: “Chambers Wharf will provide a new, dramatic architectural element to this important part of the river frontage close to Tower Bridge. The current buildings have largely fallen into disuse and in replacing them we are intending to create a development with world-class architecture, which sets standards of quality particularly in the affordable element not previously seen. In addition, a great deal of emphasis has been placed on sustainable issues in accordance with the company’s Corporate Social Responsibility policy and the resulting potential CO² savings far exceed current requirements. We believe that Chambers Wharf will be a development of which Southwark and London can be extremely proud.”

Ian Simpson commented: “We are delighted that the proposals for Chambers Wharf have received planning approval. We believe the designs will produce an exciting architectural addition to the Thames riverside and Southwark. We applaud St Martins for its belief in the project and the re-development of this important site.”

Planning Consultants for St Martins are DP9.

Chambers Wharf website: www.chambers-wharf.co.uk

Notes to editors:

Key facts of the proposals

Site size: 1.5 hectares (3.7 acres)
Total residential space: Gross approx 63,000 sq m (680,000 sq ft); Net approx 39,000 sq m (420,000 sq ft)
Total commercial space: 480 sq m (5,170 sq ft)
Parking spaces: 183 for cars, 24 for motorcycles and 656 for bicycles
Renewable energy: Combined heat and power units; ground source heat pumps; solar thermal panels; rainwater harvesting; green and brown roofs and wind turbines.
Carbon emission reduction: in excess of 30% lower than Building Regulations Part L 2006.
Project team: In addition to St Martins as the developer, the expert team includes Ian Simpson Architects, DP9 (town planning), Hoare Lea (building services) Clarke Bond (structure), Gardiner & Theobald (cost consultants), Place Design (landscape), Denis Wilson (transport) and ENTEC (environmental).

Notes to editors:

For further information, please contact:

Richard Stocks, FD Tamesis: +44 (0)20 7269 9355/+44 (0)7951 328475

‘Exemplar’ demolition work underway at Chambers Wharf

Wed, 01 Oct 2008 12:00:00 GMT

Simon Hughes MP lends support to major new riverside residential development

Demolition work has begun on a four-acre brownfield site at Chambers Wharf on the bank of the River Thames at Southwark, paving the way for one of the greenest proposed residential developments in London.

St Martins, the international property development company behind the project, has spearheaded a plan to remove the majority of waste from the site by barge down the Thames – instead of by road. In spite of the extra cost involved, St Martins’ decision will put a stop to an estimated 6,000 lorry movements on the local roads of this primarily residential area. There will also be a saving of approximately 75% in the CO² emissions by using river rather than road transport.

Simon Hughes MP, Liberal Democrat representative for Southwark North and Bermondsey, joined ward councilors and members of the development team on-site today (1 October) to see the progress of the work during which 15 disused warehouse and commercial buildings will be demolished.

St Martins received planning approval from Southwark Council in July this year to go ahead with the new development and create 596 new apartments – 189 of which will be affordable – with some commercial and retail units at ground level, fronting Chambers Street. It will provide substantial benefits to the local community, including significant enhancements to the public realm, including a new riverside walkway, recreation areas and open spaces.

The demolition is being carried out for St Martins by leading contractor Cantillon and the Chambers Wharf site has already been awarded ‘Exemplar’ status under the Considerate Contractor Scheme. The entire development team has gone to unprecedented lengths to ensure the demolition process is in keeping with the environmental vision for Chambers Wharf which includes an ‘Excellent’ EcoHomes rating, 13 wind turbines, combined heat and power plants, ground source heating/cooling and solar panels for water heating.

The majority of demolition material, comprising brick, concrete, steel and timber, will be transported off-site by barge down the Thames to waste recycling plants beside the river in Kent. St Martins has gained full approval from the Port of London Authority and Environment Agency to pursue this approach, saving an estimated 35 lorry movements a day. The remaining waste material will be stockpiled on-site and recycled to be used for the construction phase.

Roger King, Assistant Executive Director at St Martins, said: “A key objective of the demolition process was to take every opportunity to minimise disruption to the local community. Removing the waste by river is an innovative solution cutting out the need for regular lorry movements, which will benefit local residents a great deal. I believe this project sets a benchmark to others of how to carry out a major demolition on a river frontage in a highly sustainable, neighbour-sympathetic approach.”

Following completion of the demolition process in March 2009, there will be a further period of design development, and market conditions will be considered before the construction phase begins.

Chambers Wharf website: www.chambers-wharf.co.uk

For further information, please contact:

Richard Stocks, FD Tamesis on behalf of St Martins

+44 (0)20 7269 9355

+44 (0)7951 328475

richard.stocks@fd.com

Notes to editors:

Chambers Wharf – key facts

Site size: 1.5 hectares (3.6 acres)

Total residential space: Gross approx 63,000 sq m (680,000 sq ft); Net approx 39,000 sq m (420,000 sq ft)

Total commercial space: 480 sq m (5,170 sq ft)

Parking spaces: 183 for cars, 24 for motorcycles and 656 for bicycles

Renewable energy: Combined heat and power units; ground source heat pumps; solar thermal panels; rainwater harvesting; green and brown roofs and wind turbines.

Carbon emission reduction: in excess of 30% lower than Building Regulations Part L 2006.

Project team: In addition to St Martins as the developer, the expert team includes Ian Simpson Architects, DP9 (town planning), Hoare Lea (building services) Clarke Bond (structure), Gardiner & Theobald (cost consultants), Place Design (landscape), Denis Wilson (transport) and ENTEC (environmental).

The demolition programme – key facts

Contractor: Cantillon Ltd

Start date: August 2008

Completion date: March 2009

Waste:

70,000 tonnes of brick and concrete
600 tonnes of steel
350 tonnes of timber
62% of waste transported by river barge and recycled
38% of waste stockpiled on site and re-used in construction process

St Martins secures Stella lettings at Windmill Hill, Swindon

Fri, 24 Oct 2008 12:00:00 GMT

International property investment and development company St Martins has let 10,000 sq ft of office space at its award winning Windmill Hill Business Park in Swindon.

EnergySolutions EU Limited advised by King Sturge LLP has taken 7,613 sq ft at the Park’s Stella building, while existing tenant Ubiquisys have expanded their occupancy of the same building by taking a further 2,555 sq ft. The two transactions leave just 2,300 sq ft available for immediate occupation in the ‘Very Good’ BREAAM-rated Stella building. Other occupiers include Royal Bank of Scotland, Handlesbanken, Robert Half International, Definitive Consulting and Isotron.

The deals represent the latest in a string of lettings at Windmill Hill in the last twelve months. The UK’s largest building society Nationwide took the whole of the Pegasus building, which brings the total space let at Windmill Hill since the second half of 2006 to approximately 85,000 sq ft, approximately 12% of the office take-up for the whole of Swindon during that period.

Lindsey Robinson, Development Director at St Martins, said: “During a time when the office market across the UK is experiencing a significant downturn, Windmill Hill Business Park continues to attract a great deal of interest because of its excellent location adjacent to the M4 and because of the high-quality of the office space it offers in such a pleasant parkland setting.”

Mark Morant, Executive President at EnergySolutions International Group, commented: “We selected the Stella Building because it projects a modern and innovative image that fits well with EnergySolutions’ growing international business. We were also greatly impressed by the reputation and high calibre of the other occupiers on the Park.”

St Martins is also offering Design & Build opportunities at Windmill Hill of 100,000 sq ft upwards to suit occupiers’ needs, and has recently refurbished the Sigma building in the Park, which provides circa 12,000 sq ft of lettable office space in a prominent position.

The quoting rent at Windmill Hill is £18.50 per sq ft. Joint agents for St Martins are Whitmarsh Lockhart, Hartnell Taylor Cook and Cushman & Wakefield.

Notes to editors:

Windmill Hill is an established business location overlooking the Wiltshire countryside, located less than one mile from Junction 16 of the M4 motorway. Set within 80 acres of mature landscaping, Windmill Hill currently provides 670,000 sq ft (62,245 sq m) of office and business space, with a well-known list of occupiers including Cable & Wireless, Regus, George Wimpey, Dialog, Lucent Technologies, RWE npower, Hochtief (UK) Ltd and Arval PHH. When completely developed, Windmill Hill will provide approximately 1 million sq ft (92,903 sq m) of business space with amenities such as an on-site nursery, 24-hour security and on-site management offices.

For further information, please contact:

Richard Stocks, FD Tamesis: +44 (0)20 7269 9355/+44 (0)7951 328475

Windmill Hill offers brand new office space at Sigma

Thu, 15 Jan 2009 12:00:00 GMT

St Martins has launched a newly refurbished office building at its established business location, Windmill Hill. Sigma is a self-contained office building providing circa 12,000 sq ft in a prominent position on Swindon’s premier business park.

Sigma is available to let immediately and offers high quality office space set in beautifully landscaped parklands overlooking the Wiltshire countryside. Features include VRV air conditioning system, fully refurbished reception, clear floor plates and 44 parking spaces.

St Martins is also offering Design & Build opportunities at Windmill Hill between 50,000 and 100,000 sq ft upwards to suit occupiers’ needs. Planning consent is in place for Phase 7b, which will consist of two modern office buildings, Perseus and Magnus providing 130,000 sq ft of high quality space. Phase 9 is a stand-alone building, which will provide 95,000 sq ft.

Energy efficient design and materials will be incorporated into the build of both phases, ensuring they achieve a minimum ‘Very Good’ BREEAM rating. St Martins is committed to working with clients in the design and development process to ensure buildings are produced to meet specific requirements.

Richard Ratcliffe, Portfolio Management Director at St Martins, said of Sigma: “The refurbishment of the Sigma building along with the Design & Build proposition offers a unique opportunity to be part of a strategic business location such as Windmill Hill and we are providing high spec office space in a great location. Earlier this year we secured tenants such as Nationwide and Royal Bank of Scotland at Windmill Hill and we are already receiving considerable interest in the new buildings.”

Windmill Hill offers a peaceful atmosphere with offices connected by a network of gravel pathways and tree-lined walks and has excellent facilities including on-site management, security and a nursery. Other services include discounts for nearby amenities, a car sharing scheme and the Hilton Hotel, providing excellent conference facilities.

Joint agents for St Martins are Hartnell Taylor Cook and Whitmarsh Lockhart.

-Ends-

Notes to editors:
Windmill Hill is an established business location overlooking the Wiltshire countryside, located less than one mile from Junction 16 of the M4 motorway. Set within 80 acres of mature landscaping, Windmill Hill currently provides 670,000 sq ft (62,245 sq m) of office and business space, with a well-known list of occupiers including Cable & Wireless, Regus, Dialog, Lucent Technologies, RWE npower, Hochtief (UK) Ltd and Arval PHH. When completely developed, Windmill Hill will provide approximately 1 million sq ft (92,903 sq m) of business space with amenities such as an on-site nursery, 24-hour security and on-site management offices.

Website: www.windmillhill.uk.com

For further information, please contact:
Naomi Galt, FD
0207 269 9351
naomi.galt@fd.com

St Martins launches landmark office building West45 in Hammersmith, London

Fri, 23 Jan 2009 12:00:00 GMT

St Martins has completed the refurbishment of its landmark office building West45, Hammersmith, London W6.

West45 provides a total of 62,244 sq ft of high quality air conditioned office space, with each upper floor having approx. 8,100 sq ft space. The offices are approached through a new contemporary entrance lobby and reception finished in white stone, with timber wall panels and modern furnishings.

The building is available to lease as a whole, in multiple floors or individual floors, and is available at a quoting rent of £35psf.

West45 is located in the heart of Hammersmith, on Beadon Road, just to the north of its junction with King Street and is adjacent to the Kings Mall Shopping Centre. The area has numerous bars, cafes and restaurants together with the extensive shopping facilities along King Street.

“West45 offers high quality office space right in the centre of Hammersmith, a sought after location amidst a thriving business community. The area has first-class transport links, extensive retail and leisure facilities and a lively cultural community,” said Richard Ratcliffe, Portfolio Management Director at St Martins.

The offices are available through St Martins’ letting agent Allsop and letting consultant Philip Dawe & Co.

Website: www.west45.co.uk

Notes to Editors:

St Martins has a long-standing commitment to investment in the London Borough of Hammersmith. In addition to West45, the company owns the 87,000 sq ft office building One Lyric Square and the Kings Mall Shopping Centre. St Martins also owns the Lyric Theatre.

For further information, please contact:
Naomi Galt, FD
0207 269 9351
naomi.galt@fd.com

St Martins buys luxury residential block in Tokyo, Japan

Fri, 06 Feb 2009 12:00:00 GMT

First acquisition in Asian market to trigger further investment in the region over the long term.

International property investment and development company St Martins has made its first move into the Asian market by acquiring a luxury 27-storey high rise residential tower in central Tokyo for JPY 13 billion (£105 million), with a net yield above the historic average for such a quality property.

The Lietocourt Arx Tower is centrally located in Minato, Chuo-Ku, adjacent to Nihonbashi and Ginza, Tokyo's well-established business and retail district. The building was completed in February 2007, and comprises 281 serviced apartments totalling over 29,701 sq m. The vendor is a fund managed by KK daVinci Advisors (KK daVinci), one of Japan's major property fund managers. St Martins had spent over twelve months reviewing the market, and a number of opportunities, before deciding that the pricing and long term prospects for Arx Tower were attractive.

The acquisition was partially financed by a bond issue to The Tokyo Star Bank Limited, arranged through the Real Estate Finance desk of Nikko Citigroup Limited.

Nigel Brown, Managing Director at St Martins, said: "This is the first of what we anticipate will be a number of investments in the region, subject to pricing and timing."

He continued: "Whilst we have been considering investment opportunities throughout Asia, including China, Hong Kong, Singapore Vietnam and Australia, our future Asian strategy is likely to focus on Japan, China and Australia. We are waiting for the right opportunities at the right prices that will offer potential for long term performance and represent properties that aren't normally seen coming to the market."

"Whilst we will continue to review the markets, and specific opportunities, we consider that it may be later in the year before similar quality assets become available at attractive prices and any signs of recovery are seen in the markets. We anticipate a correction in the pricing in China to make investments more attractive in comparison for instance to yields now available in the UK and other developed markets. St Martins will also consider landmark opportunities in the major cities in Continental Europe and the UK when the markets become more stable."

A spokesperson for KK daVinci said "the company is pleased to be working with St. Martins and is looking forward to a lasting and mutually beneficial relationship." KK daVinci Advisors is a wholly-owned subsidiary of KK daVinci Holdings (4314), which was founded by Osamu "Sam" Kaneko in 1998 and is listed on the Hercules Exchange.

St Martins was established in 1924 and has grown into one of the world's leading property companies with investments in the UK, Europe and Australia. In 2008 the company acquired the Willis Building in the City of London and has just completed the development of a 200,000 sq ft office building at 150 Cheapside, adjacent to St Paul's Cathedral, also in the City of London.

ENDS

For further information, please contact:

Richard Stocks, FD Tamesis on behalf of St Martins

Tel: +44 (0)20 7269 9355

Mobile: +44 (0)7951 328475

Email: richard.stocks@fd.com

St Martins secures Cote restaurant at London Bridge City

Mon, 18 May 2009 12:00:00 GMT

St Martins, the leading property development and asset management company, has secured Cote Restaurant at the iconic Hay’s Galleria retail and restaurant complex – part of its prestigious London Bridge City development situated between London Bridge and Tower Bridge on the banks of the River Thames.

Cote Restaurant Ltd has taken unit 1 at Hay’s Galleria on a lease of 25 years at a starting rent of £150,000 pa with five yearly upward rent reviews.

Cote is a French brasserie and bistro concept launched by Andy Bassadore and Chris Benians, the creators of Strada and the concept is backed by Richard Caring’s Caprice Holdings.

Richard Ratcliffe, Portfolio Director at St Martins, said: “Cote is already a recognised and respected restaurant brand in London, with a strong management team and a winning concept. These factors made it an attractive proposition to St Martins and an appealing restaurant offer for visitors to Hay’s Galleria.”

Josh Leon of Davis Coffer Lyons, who structured and negotiated the deal on behalf of St Martins Property, said: “As part of the deal we secured a new headline rent, which is a terrific statement in today’s market and demonstrates that the best sites are still commanding substantial rents. DCL has acted for St Martins on the London Bridge City scheme for a number of years. We are delighted to have facilitated a letting to Cote, which is regarded as one of the top concepts in the industry. We also acted as agents on the letting of unit 15 to Allans, also at a new headline rent.”

Cote Restaurant Ltd already has six sites across London including Soho, Wimbledon, Kensington, Richmond and Covent Garden. The inspiration for the food and design comes from a modern interpretation of the many famous bistros that populate Paris.

Allans is a high-class delicatessen and patisserie that has two outlets in Mayfair and is looking to expand further. Allans has taken unit 15 on a lease of 20 years at a starting rent of £37,500 pa.

[ENDS]

For further information, please contact:
Naomi Galt, FD
0207 269 9351
naomi.galt@fd.com

Retailers buy into 150 Cheapside

Mon, 15 Jun 2009 12:00:00 GMT

St Martins, the international property investment, development and asset management company, has secured Tesco as one of the retail tenants at its landmark 150 Cheapside office development in the City of London.

The UK’s leading retailer has taken 4,300 sq ft on ground and lower ground floors of the building, and will operate a Tesco Express store, which is expected to open in the summer. A 15 year lease has been signed with five yearly reviews.

The letting closely follows the recent agreement with Turkish restaurant operator Haz, which has taken 7,000 sq ft of the retail space at 150 Cheapside to run a restaurant, coffee shop and patisserie on a 20-year lease with five yearly reviews. The restaurant opening at 150 Cheapside will be Haz’ fourth restaurant in the City of London.

Anthony Steffell, Assistant Executive Director at St Martins, said: “The City Corporation-led Cheapside Initiative is committed to developing the area into London’s newest shopping hotspot. Our retail units are certainly attracting significant occupier interest and St Martins expects to announce further lettings in the near future.”

150 Cheapside is a landmark office development overlooking St Paul’s Cathedral in the heart of the City of London. The building is designed by Michael Aukett Architects and offers 179,732 sq ft of office space over 8 floors with a stunning roof terrace, and 22,000 sq ft of retail in five units. The building has a BREEAM “Excellent” rating.

Cushman & Wakefield and CB Richard Ellis advised St Martins, and GCW advised Tesco.

[ENDS]

For further information, please contact:
Richard Stocks, FD
+44 (0)20 7269 9355 / +44 (0)7951 328475
richard.stocks@fd.com

Southwark school children put Chambers Wharf in the picture

Thu, 11 Jun 2009 12:00:00 GMT

Pupils from three Southwark schools have been demonstrating their artistic talents by creating pictures which have been put on public display in adorning the hoardings of the new Chambers Wharf residential development, to the east of Tower Bridge on the south bank of the River Thames.

St Martins, the international property development and investment company behind the scheme, led the project which encouraged pupils from Riverside Primary School, St Josephs RC Primary School and St Michael’s Catholic School (all of which are located in close proximity to the development) to create images on the theme “The River Thames and its natural habitat”.

A selection of the most striking pictures have been mounted and displayed around the Chambers Wharf site for the local community and passers by to enjoy. St Martins worked in partnership with the River Thames Boat Project, who visited each school at the outset of the project to provide information, advice and inspiration about the river.

St Martins is in the process of re-developing the site at Chambers Wharf to create a residential scheme comprising almost 600 new homes, around a third of which will be affordable housing. It will bring substantial benefits to the community including significant enhancements to public realm, recreation areas, open spaces and a new riverside walkway. The development has been recognised as one of the greenest new residential schemes in London, and has received backing from Cllr Nick Stanton and Simon Hughes MP.

Thanking the pupils and staff who have participated in the art project, Sarah Rogers, Assistant Marketing Manager at St Martins, said: “The enthusiasm and talent shown by the students has been exceptional and we are delighted with the results, which really brighten up this corner of the community. We hope people will enjoy and be inspired by their efforts.

Jose Lewis of Riverside School said: “This was an excellent project which gave our students a valuable insight into the variety of flora and fauna that can be found in and around the Thames as well as a great opportunity to focus their creativity on a relevant theme. We are really proud of their efforts and pleased that the work is now on display to the local community.”

The artwork on display has been created by pupils from Years 3 and 4 at St Josephs RC Primary School, Years 2 and 3 at Riverside Primary School and Year 10 at St Michael’s Catholic School.

Chambers Wharf website: www.chambers-wharf.co.uk

[ENDS]

For further information, please contact:
Naomi Galt at FD Tamesis on behalf of St Martins
+44 (0)20 7269 9351
naomi.galt@fd.com

Notes to Editors:

River Thames Boat Project
The River Thames Boat Project is a registered charity that aims to give people the chance to access the Thames, to discover this fascinating river and learn about its environment. It provides opportunities for personal and social development, and encourage people to become more independent by participating in running the Richmond Venturer, a specially adapted barge. The Venturer is available for day cruises, residential voyages or for static hire - as a floating classroom or for meetings or social events. www.thamesboatproject.org.

St Martins leases more retail space

Mon, 13 Jul 2009 12:00:00 GMT

St Martins, the international property investment, development and asset management company, has let 90% of the retail space at its landmark 150 Cheapside office development in the City of London.

Maplin Electronics has just secured a ten year lease on a 6,884 sq ft unit, over the ground and lower ground floors of the building, leaving only one unit still available to let. The letting to Maplin, a specialist electronics retailer with over 150 stores across the UK, closely follows recent deals with Tesco and Turkish restaurant operator, Haz. St Martins has let nearly 19,000 sq ft of retail space in the last two months.

Lindsey Robinson, Executive Director at St Martins, said: “We are delighted that 150 Cheapside is proving to be such an attractive location to retailers. We also have considerable interest now in the office space and hope to be able to announce further deals very soon.

150 Cheapside, which overlooks St Paul’s Cathedral, was designed by Michael Aukett Architects and offers 180,000 sq ft of office space over 8 floors with a stunning roof terrace. The building has a BREEAM “Excellent” rating.

Cushman & Wakefield and CB Richard Ellis advised St Martins and Robert Bebington & Co advised Maplin.

ENDS

For further information, please contact:
Richard Stocks, FD
+44 (0)20 7269 9355 / +44 (0)7951 328475
richard.stocks@fd.com

EG TV video on Bristol's tallest offices to let

Tue, 15 Sep 2009 12:00:00 GMT

Bristol's tallest office building, Castlemead, has up to 35,000 sq ft of high quality office space to let.

Watch the EG TV film on St Martins' Castlemead: www.eg.tv

St Martins sold out of retail at 150 Cheapside

Thu, 10 Dec 2009 12:00:00 GMT

St Martins, the international property investment, development and asset management company, has let the last remaining retail unit at its 150 Cheapside office development in the City of London.

Following lettings this year to Tesco, Turkish restaurant and coffee shop operator Haz and Maplin Electronics, St Martins has let the final 2,700 sq ft unit on a ten year lease to Pod Food, the healthy food outlet. The company has now let all of the retail space at 150 Cheapside, totaling 22,000 sq ft.

It is expected that Pod will open for business early next year, providing office workers in the area with a healthy alternative to fast-food. The rapidly expanding company already has four units across the City.

Lindsey Robinson, Development Director at St Martins, said: “To have let all of the retail space in the current market is testimony to the quality of the building and its outstanding location.”

150 Cheapside is a landmark office development overlooking St Paul’s Cathedral in the heart of the City of London. The building is designed by Michael Aukett Architects and offers 180,000 sq ft of office space over 8 floors with a stunning roof terrace. The building has a BREEAM “Excellent” rating.

CB Richard Ellis and Cushman & Wakefield advised St Martins.

ENDS

For further information, please contact:
Richard Stocks, FD
+44(0)20 7269 9355 / +44(0)7951 328475
richard.stocks@fd.com

About Pod Food
POD, London’s healthy fast food pioneer, has four outlets operating in the City of London and 150 Cheapside will be pod’s fifth store.

In early 2010 Pod will be opening a further three sites at locations in the city, South Bank and West End.

In addition Pod is currently looking to acquire a further five sites in high footfall locations in Central London (1,000 – 1,500 sq.ft).