F&C Property Asset Management plc - Offices Development - London, City of London

Date: 07 Mar 2008

F&C Property Asset Management plc, on behalf of clients Cornerstone City Developments, is launching three major new office development schemes located within the heart of the City of London's financial district.

The £95 million refurbishment project called 'A City Collection' is being managed by F&C Property and will introduce 170,000 sq ft (15,793 sq m) of Grade A office space offering a choice between 3 self-contained buildings suitable for single occupants, or 27 self-contained floors let on a floor by floor basis, ranging from 2,235 sq ft (207 sq m) to 8,168 sq ft (758 sq m). All three buildings are situated within 100 metres of the Bank of England and will be available from Autumn 2008 to Autumn 2009 and are located at; 1 King's Arms Yard, EC2 (available September 2008); 30 King Street, EC2 (available April 2009) and 1 Bartholomew Lane, EC2 (available October 2009).

Simon Lacey, Head of Central London Offices at F&C, said, "A City Collection offers three impressive self-contained buildings suitable for single occupation, or multi-let on a floor by floor basis. The choice of 27 efficiently shaped Grade A office floorplates in prime city locations, available within a 12 month period is quite unprecedented and provides a 'one stop shop' for many acquiring agents.

"There is currently a shortage of smaller Grade A floorplates in the central City and the floorplates we are offering, which range from 2,235 sq ft to 8,168 sq ft, will have strong appeal in the market. Occupational costs in the City are now almost half those in the West End and it is envisaged that the appeal of 'A City Collection' will extend well beyond traditional City boundaries."

An artist's impression of the planned redevelopment of 1 King's Arms Yard