INDUSTRY NEWS

Markel signs up for Walkie Talkie London office space

American insurance holding firm Markel has become to first company to secure London office space at 20 Fenchurch Street.

The firm has reportedly negotiated a pre-let agreement for around 51,000 sq ft of office space at the building. Construction on the 36-storey property began last year (2011). Having secured Markel as a tenant, the building – developed by Land Securities and Canary Wharf Group - will open with 19 per cent of its 650,000 sq ft office space filled.

Commenting in Land Securities trading statement for the first quarter (Q1), CEO, Robert Noel, stated: “Our focus continues to be to secure income from our developments. We are pleased with progress and continue to see interest from occupiers, despite ongoing uncertain economic news flow.

“While transactions are taking longer, occupier interest and intent remains firm as businesses seek out efficient space for their future needs.

“We remain confident that the development pipeline offers exceptional opportunity to deliver growth while our active asset management and strong financial base underpin our activities,” he concluded.

Nicknamed the “Walkie Talkie” tower because of its distinct appearance, 20 Fenchurch Street is scheduled to be completed by 2014.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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