Benchmark Group has begun construction on sites in St James’s and Pimlico.
The building on the site formerly known as Wool House, Carlton Gardens – now renamed Number 5 – will create 8,588 sq m (92,450 sq ft) of office spaces as well as nine flats. The company will also start work on 89 apartments at Rivermill House in Pimlico.
Benchmark reported pre-tax profits up from £1.2m to £8.6m for the six months to December 31. Net rental income rose from £2.4m to £10.3m. Last year’s first half figures included only two months contribution from £120m worth of property bought in October 1996 from Friends Provident. Last July it spent another £120m on a further 11 properties from Friends Provident.
- Financial Times 12/03/98 page 35
