Rns...7 May 2010 08:39
LONDON (Dow Jones)--Terrace Hill Group PLC (THG.LN), a U.K. property development and investment group, said Friday it has let a further 24,352 sq ft of office space at its mixed-use development, 129 Wilton Road, Victoria, meaning that a total of 88% of the office space has now been leased. MAIN FACTS: -Terrace Hill has let the entire first, second and third floors of the building, comprising a total of 24,352 sq ft, to IQPC, a global business conference organizer, on a 15-year lease with tenant's breaks at five and 10 years at a rent of GBP40 per sq ft. -Along with its sister company, WBR, IQPC is due to relocate from its current offices on Britten Street in Chelsea. -The remaining floor of 8,100 sq ft is also under offer. -Completed by Terrace Hill in 2008, the scheme, which sits on the site of a former 1960s office and car park, comprises eight storeys of prime Grade A office and retail space, and a 20-space car park, as well as a 12-storey residential block to the rear which was sold on completion. -Letting reflects the improving occupier sentiment in London's West End and Victoria office markets and will contribute significantly to shareholder value in the business. -Shares closed Thursday at 22.3 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires May 07, 2010 02:32 ET (06:32 GMT)