LandSec ready to go in SW1
Land Securities has renamed Victoria Circle “Nova”, and announced that construction of the £1bn SW1 project will begin this month. LandSec and jv partner Canada Pension Plan Investment Board said redevelopment of the 5.5-acre island site into a 897,000 sq ft mixed-use scheme would start imminently. The first phase will complete in Q2 2016.
Vue sells out for £935m
Vue Entertainment, comprising 146 cinemas, has been sold to OMERS Private Equity and Alberta Investment Management Corporation for £935m. The purchase by the Canadian investment groups from private equity firm Doughty Hanson is expected to be finalised in late July or August. Vue Entertainment was bought by Doughty Hanson in December 2010 for £450m.
Publicis signs with Derwent
Saatchi & Saatchi parent Publicis has signed a 20-year prelet to take 155,600 sq ft across Derwent London’s Turnmill site and 40 Chancery Lane, EC2. The site of former nightclub Turnmill, at 63 Clerkenwell Road, will bring in rent of £3.1m, and the office rent at 40 Chancery Lane is £5.7m pa.
GVA appoints 14 directors
GVA has made 14 director-level promotions, including the appointment of four senior directors. They are spread across the UK – two in the City, three in Mayfair, three in Birmingham, two in Bristol, and one each in Manchester, Leeds, Glasgow and Edinburgh.
DLA Piper moots City move
Law firm DLA Piper has instructed retained agent Jones Lang LaSalle to find it a new 150,000 sq ft City headquarters. It is exploring options to consolidate its offices at 3 Noble Street and 1 London Wall, both EC2, into one property. It has a lease expiry in 2019.
joanna.bourke@estatesgazette.com
