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Benchmark Group Plc

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New Mayfair application

Demolition start in Mayfair

Soho scheme finds tenant

Consent for Mayfair scheme

Major development for Mayfair?

LandSec gets a bargain.

Benchmark to start in West End

Record rent achieved in W1

Happiness is a completed office

Benchmark started the redevelopment of its Soho site at 15-18 Golden Square, London W1, during autumn 2002 and has just completed. Benchmark awarded the main contract to Wates for the construction of a 5,295 sq m (57,000 sq ft) 6 storey building (now called ‘Happiness’), designed by TP Bennett. The scheme includes retail and restaurant on the ground floor with 5 floors of offices totaling 4,087 sq m (44,000 sq ft) above. The letting agents are DE & J Levy and Dunlop Heywood Lorenz. - (20-10-2004)

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Benchmark to focus on West End

Benchmark Group has sold its interest in three office properties in the City of London for about £8.6m. Benchmark ha sold the leasehold interests inMitre House, Cheapside, and Compter House, Wood Street, London EC2, to clients of ING Real Estate. Benchmark has said that the disposals will allow the compnay to focus on the West End market. - (24-08-2003)

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Benchmark in bouyant mood

Benchmark Group, the property company specialising in the West End office market, is in a positive mood about the prospects for West End offices in 2002 and 2003, and considers that there is a good balance between supply and demand. The firm recently paid £55m to gain management control of 90 Long Acre, London WC2, a 17,837 sq m (192,000 sq ft) building, and is currently refurbishing the fourth floor of 2,043 sq m (22,000 sq ft). Benchmark has said that it intends to bring more space on-stream during the year. - (06-01-2002)

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Glasnost - Online Project, Contact & Image Management

British Land may be in lead for Mayfair estate

British Land is now said to be the front runner to buy the 10-acre Berkeley Square estate in Mayfair W1 from the BP Pension fund. It is thought that an offer of around £300m has been made by the company that is on a shortlist of bidders that may also include the Barclay twins and Moorfield, the property group, Simon Hallabi, a Syrian-born investor, Grosvenor Estates, and the Saudi Arabian Royal family. The BP Pension fund acquired the portfolio in 1967 for around £12m. The sale is being dealt with by Richard Womack at CB Hillier Parker. It is said that unsuccessful bids have been made by Minerva, Benchmark, and Green Properties and an unnamed US investment bank. - (09-04-2001)

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Benchmark bid for BP Amoco portfolio

Benchmark is reported to have bid nearly £300m for the 100 properties around Berkeley Square, London W1, put up for sale by the BP Amoco pension fund. Other bids submitted last week are said to include those from Minerva and the Grosvenor Estate. BP Amoco is holding the property auction at a time when headline rents in the area are passing £861 per sq m (£80 per sq ft). - (25-03-2001)

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MEPC may sell London properties

MEPC, the property company, is said to be close to completing the sale of several London properties to Benchmark for around £250m. The deal could see London overtake Tokyo as the city with the highest office prices. Benchmark is said to have an exclusivity agreement on the portfolio, which includes a 18,580 sq m (200,000 sq ft) block near Cambridge Circus, 90 Long Acre and 12 St James's Square. The Cambridge Circus building is priced at £80m and is let to BT, with about four years remaining on the lease. The property is seen as a possible refurbishment or redevelopment opportunity. The Long Acre building is partly owned by property group Asticus and is priced at £70m. 12 St James's Square, MEPC's former headquarters, is priced at £56m. - (08-10-2000)

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