Hyde in London Bridge

Posted on Posted in INDUSTRY NEWS

Housing association, Hyde, is to relocate its headquarters to London Bridge, Property Week has reported.

It is to move from Lee Green and let 50,000 sq ft of Blink Point’s new scheme at 30 Park Street.

The association hopes to move in by March 2009, after its executive management team and 80 members of the group’s corporate strategic functions have taken over their new offices.

The Hyde Group provides housing and related services to over 100,000 people in London and surrounding counties.

It manages or owns more than 30,000 properties and a further 6,000 as part of a private finance initiative with the Borough of Islington.

The commercial property is leased at a rent of £42,50 per sq ft and Hyde will benefit from a rent-free period of 21 months as part of its 20-year contract.

Commercial property rents could fall if the economy slows and job losses follow, Jeremy Newsum, chief executive of property group, Grosvenor told Reuters.

"International markets are more tied together than they used to be and our comment about expecting lower returns does not except any of our markets."

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