Land Securities lets remaining Bankside offices to RBS

UK real estate company Land Securities has announced that it has exchanged contracts with the Royal Bank of Scotland (RBS) for the pre-letting of the Bankside 2&3 development on London's Southbank. The transaction means Land Securities has now managed to let all the office space within the 87,000 m² mixed-use Bankside 123 complex.

RBS will be taking a 20-year lease occupying a total of 35,000 m² over the two buildings, with rental levels of EUR 68 being achieved for the best space. Building 1, the 'Blue Fin Building', is occupied by IPC Media following its forward sale in May 2004. Located behind Tate Modern, the UK’s popular museum of international modern art, the trio of buildings included in the Bankside 123 development are set within interconnected public spaces that will open up access to the Thames riverside from Southwark. Drivers Jonas advised RBS on the transaction, while Land Securities were represented by CB Richard Ellis, who are also marketing the retail element of the scheme.