Construction on the scheme has only just begun after Kier signed a deal with The Crown Estate to buy the site and agreed a pre-letting, on a 25-year lease, to The Department for Environment, Food and Rural Affairs (DEFRA). The space will be created behind the 1950s grade II listed façade with completion due in 2004.

Tom Gilman, Director of Offices at Kier Property, said: "Pre-sales are relatively unusual but this transaction, and the interest shown from potential purchasers, demonstrates the continuing demand for prime office investments let to Triple-A covenants."

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.