INDUSTRY NEWS

DTZ moves into new City offices

Global real estate advisor, DTZ will move into Hammerson’s City of London development and receive a contribution to its costs, Property Week has reported

It will take over parts of the major office development at 125 Old Broad Street and be given £11.7 million towards fit-out instead of a rent-free period.

"We are seeing encouraging interest in the remaining tower floors of the building and I am confident that this will prove to be a very successful development," said chief executive at Hammerson, John Richards.

DTZ will take 75,348 sq ft on levels one to five on a 20-year lease. Other tenants are Turnbull and Asser, which will occupy a 4,305 sq ft retail unit and law firm Gide Loyrette Nouel, which has agreed to rent 33,400 sq ft on levels 13 to 15.

The City of London Police have established a new mortgage fraud squad dedicated to investigating the over-valuation of properties.

It will work alongside the Financial Services Authority and help buyers of commercial propertyin London.

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