DELANCEY ADVANCES ACROSS LONDON DEVELOPMENT PROGRAMME

In a series of transactions in the West End, City and Waterloo, Delancey has dramatically advanced its central London office development programme this week, moving forward on three schemes totalling 650,000 sq ft..

At Rolls and Arnold House in Fetter Lane EC4, Delancey’s joint venture with Clerical Medical has agreed to accept a surrender of Ernst & Young’s leases which were not due to expire until 2008 and 2011. It has simultaneously accepted a surrender of the International Dispute Resolution Centre’s lease in the adjoining 8 Breams Buildings and has thus secured vacant possession of the entire site. Delancey had previously obtained planning consent to redevelop the three properties, which currently provide 145,000 sq ft, and replace them with a new 275,00 sq ft office building, design by Woods Bagot.

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