Direct Line Insurance (DLI) has signed up for 774 sq m (8,336 sq ft) on the third floor of the Lansdowne Building in Croydon. A rent of £210 per sq m (£19.50 per sq ft) was agreed with three months rent free for a 10-year lease, subject to a tenant’s break option in the third year.
Last month, Merrill Lynch took 6,091 sq m (65,570 sq ft) at the Landsdowne Building for 18 years at £170 per sq m (£15.80 per sq ft) with six months rent free and tenant’s breaks in 2008 and 2013.
Direct Line Insurance was represented by Allen Associates. LaSalle Investment Management, acting on behalf of owner the Midland Bank Pension Trust, was advised by Knight Frank and Michael Rogers.
EGi News 15/08/00
