News International take more space at Thomas More Square, E1

Land Securities and The Cadillac Fairview Corporation Limited, co-owners of Thomas More Square, E1, announce that a further 70,000 sq ft of space has been let to News International for a term of up to 10 years.

News International will take the majority of 2 Thomas More Square (54,878 sq ft) and a further 15,333 sq ft of space at 3 Thomas More Square generating a further £2 million per annum in rent.

This latest letting takes total occupancy of the estate to just under 99% with News International occupancy at Thomas More Square over 260,000 sq ft.

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

Commenting on this letting, Robert Noel, Managing Director of the London Portfolio said; “We have been clear that one of our priorities is to build our income across the business and the income generated by this letting demonstrates our focus. News International is a world class business and we are delighted to have such a high profile occupier at this location.”

The letting was transacted directly between Land Securities and News International.

source : Land Securities