Teesland Group plc - Offices Development - London W2, Chandos Place, Brookmount House

Date: 18 Sep 2001

A 50/50 joint venture between Teesland Group plc ("Teesland") and Longford Estates Limited is to undertake a £2 million complete refurbishment of Brookmount House, Chandos Place, WC2.

In August 2001, Teesland and Longford Estates pre-let the property in its entirety to Longford Business Centres, which will take up occupancy as soon as the refurbishment is completed. Brookmount House will be Longford's ninth business centre in the UK and the fourth in London.

The refurbishment, which is set to commence in early October 2001 and due to complete in March 2002, will provide the property with a state-of-the-art IT and telecommunications infrastructure and modern office space tailored for Longford Business Centre's serviced office requirements.

The property comprises 24,000 sq ft of seven floors and is exceptionally well located, within walking distance to Charing Cross tube and train stations, as well as Covent Garden underground.

Mark Jackson of Teesland commented: "This refurbishment will further enhance the value of this well-placed property by creating an extremely high quality work environment. We are delighted to have pre-let the property to such a high quality tenant and believe that Brookmount House will be a worthy addition to Longford Business Centre's portfolio."

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