Good deal for Londoners on new building for Mayor and Assembly.

0 Comments | M2 Presswire, February, 2000

M2 PRESSWIRE-10 February 2000-UK GOVERNMENT: Good deal for Londoners on new building for Mayor and Assembly (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:10022000 The stunning new building for the Mayor and Assembly at the More London Bridge site near Tower Bridge will be a very good deal for London, Minister for London Keith Hill announced today.

The building, designed by Foster and Partners, will be leased from developer CIT Group on a 25-year lease. Answering a written Parliamentary Question from Stephen Pound MP (Ealing North), Keith Hill said: "We have reached agreement with the developer, CIT Group, on a rent of GBP36.50 per square foot, GBP393 per square metre. This is frozen until 2007. The fixed rent at practical completion of the contract...