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News Release

London

Jones Lang LaSalle appointed to lease iconic London skyscraper

London Bridge Quarter Ltd appoints office leasing agents for the Shard and London Bridge Place


[Note: The following is an excerpt from a news release issued by London Bridge Quarter Ltd]:

London 10 November 2010 - London Bridge Quarter Ltd ("LBQ") today announces the appointment of office leasing agents for both the Shard and London Bridge Place which adjoins London Bridge Station. Together they provide over 1m sq ft of world class office accommodation, and are set to transform both the London skyline as well as one of the capital’s major transport hubs.

The appointed agents on a ‘joint sole’ basis for each building are Jones Lang LaSalle and Knight Frank for the Shard, and CB Richard Ellis and Colliers International advising on London Bridge Place.

Designed by the internationally renowned architect Renzo Piano, the Shard is already establishing itself as an iconic global landmark building. This unique addition to London’s skyline will become a vertical city in its own right, providing 595,000 sq ft of office space, a cluster of high level restaurants, a five-star (plus) hotel (let to Shangri-La), exclusive luxury residences and viewing galleries offering unprecedented 360º views of London. Rising to the equivalent of 87 storeys (1,016 ft), the Shard will be completed in May 2012.

London Bridge Place, linked to the Shard by a new public piazza, was designed by Renzo Piano as a 21st Century corporate headquarters building providing approximately 428,664 sq ft of the highest quality office space and an impressive roof terrace. Due for completion in Q1 2013 the building will link to new underground retailing that will further enhance amenities in the immediate area.

The development master plan will also transform and upgrade London Bridge station to the highest standards of international transport design, connecting seamlessly to new public space.

A spokesman from the Sellar Group, the developer, commented: "I am delighted to announce the appointment of the country’s leading specialist leasing consultants. With the Shard rapidly taking shape and already becoming a key feature on London’s skyline, it will offer office occupiers unique and prestigious space in an iconic landmark building."

Agents’ comments

Neil Prime, Head of Markets, England at Jones Lang LaSalle: "This is an incredibly prestigious and important appointment for Jones Lang LaSalle on an iconic building that will be recognised around the globe. The timing of the Shard is excellent and it will provide much needed grade A office space to the Central London office market.  Given the current shortage of high calibre space being delivered we anticipate very strong demand from prospective occupiers - both from within the UK and internationally."

John Snow, Knight Frank’s Head of Central London Offices: "Knight Frank is absolutely delighted to have been awarded this prestigious letting instruction for the Shard. Not only is it London's most dramatic new landmark, but it will also become one of the world's most recognisable buildings.

The Shard will be delivered to the market at a time when the Central London market is expected to be suffering an unprecedented period of under-supply. The limited development activity across the City and West End over the last year will result in only 1.3m sq ft of new Grade A product being delivered in 2011, and just over 850,000 sq ft in 2012. This landmark development will offer an extremely desirable option to both City and West End tenants."

Digby Flower, Head of Central London Agency at CB Richard Ellis: "We are delighted to be appointed on London Bridge Place which is the only headquarters building currently scheduled for speculative completion in Central London in 2013."

Mark McAlister, Head of Colliers International City Agency: "Most strategically aware occupiers and their advisers now realise the significance of London Bridge Place as an opportunity to access City,West End, and Canary Wharf clients customers and suppliers.

LBP itself offers efficient large floor plates with the Renzo Piano design benefits and with direct access to the Jubilee line station from within the building itself."

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For more information on the development that will tranform the skyline of London visit the project's official site.