Mitsubishi Corporation (MC) and Mitsubishi Estate Company (MEC), the joint developers of Bow Bells House in London, confirmed on Tuesday that they have accepted a lease surrender from the administrators of Landsbanki Islands HF for the 6,500 m[sup]2[/sup] of office space at the property let to the failed Icelandic bank.
Mitsubishi Corporation (MC) and Mitsubishi Estate Company (MEC), the joint developers of Bow Bells House in London, confirmed on Tuesday that they have accepted a lease surrender from the administrators of Landsbanki Islands HF for the 6,500 m2 of office space at the property let to the failed Icelandic bank.
MC and MEC said they have relet the same space to Aberdeen Asset Management on a 15-year lease. The other terms of the lease were not disclosed.
Prior to its collapse last year, Landsbanki had virtually completed a top quality fit-out of Bow Bells House but had not occupied the building.
Commenting on the transactions, MEC's London spokesman, Christopher Joll, said: 'In what remains a very difficult market, we are pleased to have both recovered the lease from Landesbanki and simultaneously to have re-let the space to Aberdeen. We believe that this is a reflection of the quality of Bow Bells House, and also reflects the regeneration of Cheapside into a highly desirable office location.'
Letting agents for MC and MEC were DTZ and Cushman & Wakefield.
