Double deal at 40 Princes Street
18 February 2008
Two new tenants have been signed-up for Redevco’s flagship development
It's finally official, two new tenants have been signed-up for Redevco’s flagship 40 Princes Street development.
Financial market trader, CMC Markets has agreed terms on 3,705 ft² of space on the fifth floor on a 10-year lease with a five-year break option at an annual rental of £101,887 (£27.50 per ft²).
Also on the fifth floor, project management and cost consultancy, Davis Langdon is taking 4,500 ft² on a ten-year lease, with a five-year break option. The annual rental is £ 145,062.50 (£27.50 per ft²).
Farzim Nazari, Woldwide Corporate Secretary for CMC Markets said: "We are enjoying continual growth and we are delighted to secure such a prestigious office in the heart of Edinburgh. The quality of the office space is excellent, the views are fantastic views, plus our staff can also enjoy easy access to Waverley station and other transport links.”
Adam Starr of Redevco added: "This is one of Edinburgh's finest office buildings in the heart of the city centre and we are delighted to have a secured hugely respected tenants like CMC Markets and David Langdon."
Neil Allan of King Sturge said: “With Aberdeen Asset Management already taking 17,800 ft² over two floors, we are noting keen interest in the remaining 19,000 ft² of space which extends over two floors."
The advisers for the CMC Markets Deal were: King Sturge for CMC Markets and Jones Lang Lasalle for Redevco UK. On the Davis Langdon Deal: James Barr for Davis Langdon and King Sturge for Redevco UK.
