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It has been reported that Land Securities has sold the freehold of 30 Gresham Street to to the Government of Singapore Investment Corp for £300m. The 36,368 sq m (391,462 sq ft)
building was let to Dresdner Kleinwort Wasserstein last autumn. BH2 advised Land Sec on the sale. - (04-05-2005)
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Whitecliff Investments and Scottish Widows have gained planning consent for the speculative redevelopment of the vacant 140 Aldersgate Street, London EC1A 4JQ with an eight-storey office and retail block. The 12,800 sq m (138,000 sq ft) building will include 11,000 sq m (122,000 sq ft) of offices and 1,500 sq m (16,000 sq ft) of retail space. A construction start has been set for April 2002. BH2 is advising. - (11-12-2001)
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With more competitive times now facing the property industry developers are starting to make a few changes in their letting agents. Thorstone Land has replaced Knight Frank on the marketing of Lion Plaza in EC2 with BH2, and at 'The Eye' in WC1 Alfie Buller's Bee Bee Developments has replaced Atis Real Weatheralls with Insignia Richard Ellis. No doubt there are more changes to come as the increasing supply puts more pressure on agents to be more proactive in letting space. - (10-11-2001)
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Equitable Life has sold a redevelopment site in Bishopsgate to Heron International. The site, which includes Stone House, 128-140 Bishopsgate; Staple Hall, 87-90 Houndsditch; Devonshire House, 142-150 Bishopsgate; and 13-17 Devonshire Row, London EC2, is opposite Heron's 110 Bishopsgate site (Kempson House). Equitable Life paid £45m for the four buildings in 1999 and has sold them for £60m, reflecting a yield of 7.5%. BH2 acted for Equitable Life. In September 2000 Equitable Life submitted a planning application for a scheme, by Sidell Gibson, involving the part refurbishment and part redevelopment of the buildings on the site. - (17-12-2000)
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