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29 Jun 2009 08:30
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29Β JuneΒ 2009
TERRACE HILL GROUP PLC
("Terrace Hill" or the "Company")
TERRACE HILL GROUPΒ SECURES LETTING TO AFEXΒ
ATΒ 129 WILTON ROAD,Β VICTORIA
Terrace Hill Group plc (AIM: THG), a leading UK property development and investmentΒ group, today announces that it hasΒ secured a letting to Associated Foreign Exchange Inc ("AFEX") for the entire fifth floor ofΒ its 129 Wilton RoadΒ office developmentΒ inΒ London,Β SW1.Β
Relocating from St James' Square, AFEX, theΒ global foreign exchange service provider,Β has taken 8,100 sq ft at the building on a 10-year lease, at a total rent of Β£364,500 per annum, as its new London headquarters. The new letting follows E.ON's relocation of itsΒ UKΒ headquarters to the building, occupying 19,857 sq ft over three floors, signedΒ in September 2008.
129 Wilton RoadΒ isΒ a 62,000 sq ftΒ Grade AΒ office redevelopment, completed in March 2008. Arranged over eight storeys of offices and including ground floor retail space and a 12-storey residential block to the rear, the mixed-use scheme, which is located in the heart ofΒ VictoriaΒ opposite Victoria Station, offers some of the best availableΒ Grade AΒ office accommodation in the area. Following this latest letting,Β 50% of the floors withinΒ the officeΒ componentΒ of the schemeΒ have now beenΒ let,Β with four floors of approximately 8,000 sq ft remaining.
Commenting on theΒ letting,Β Philip Leech,Β Chief Executive of Terrace Hill, said:
"This letting, in a challenging market, is an endorsement of the high quality of our development inΒ Wilton Road,Β Victoria. It further demonstrates our ability to continue to attract tenants to our buildings in the face of stiffΒ competitionΒ and add value across our development portfolio and for our shareholders."
- Ends-
For further information, please visit www.terracehill.co.uk or contact:
Terrace Hill Tel: 020 7631 1666 Philip Leech/Jon AustenΒ
Oriel Securities (Nominated Adviser)Β Tel: 020 7710 7600
Richard Crawley
Daniel Conti
Financial Dynamics Tel: 020 7831 3113Stephanie Highett/Olivia Goodall terracehill@fd.com
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