Jones Lang Wootton - Retail - London EC3, Lombard Street, Restaurant Letting

Date: 27 Jul 1998

Flying The Flag In Lombard Street, Ec3

Jones Lang Wootton have been busy in the City with a flagship restaurant letting and four office lettings on Lombard Street, London EC3.

Jones Lang Wootton acted for the landlord, Aberdeen Asset Management on behalf of the Scottish Provident Institution, on the 9,700 sq ft restaurant at 1 Lombard Street, a former banking hall and will trade as "One Lombard Street". The restaurant is being developed by Soren and Katrina Jessen who were previously involved in the Atlantic Bar and Grill and Coast with Oliver Peyton. The lease has been taken for 15 years at a rent of £210,000 in year one, £230,000 in year two and £250,000 from year three onwards. One Lombard Street is situated on the Bank intersection in the very heart of the City next to Mansion House and overlooks the Bank of England and Royal Exchange.

Jones Lang Wootton acted for the landlord, Aberdeen Asset Management on behalf of the Scottish Provident Institution on the office lettings. On the sixth floor Birchin International have taken 1,662 sq ft and The Japan Centre Group have taken 1,200 sq ft. Leases include a five year tenants break option and rent has been set at close to £25 per sq ft. On the refurbished ground and lower ground floors, Indosuez Carr Futures has acquired approximately 2,500 sq ft at a rent of £37.50 per sq ft for a lease to include a five year break option.

Thomas Davidson and Partners acted for Jessen and Jessen Ltd.

John D Wood advised Indosuez Carr Futures; King Starge advised Birchin International and Morgan Pepper advised The Japan Centre Group.

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