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LONDON- Kier Ventures has reached an agreement to redevelop the Department for Environment, Food and Rural Affairs’ headquarters at 3/8a Whitehall Place, London SW1. The property development arm of the Kier Group has exchanged contracts with the Crown Estate–the freeholder of the building–to take a long lease and redevelop it with 135,000 sf of offices behind the retained grade II-listed 1950s façade.

DEFRA has agreed a pre-letting on the new building, signing a 25-year lease that will take effect once the project is complete in 2004. DEFRA has occupied the building since the 1950′s on a long lease at ground rent. It will surrender its lease in exchange for a geared rent on the new lease and a capital sum to cover fitting out works.

Kier was advised by DTZ Debenham Tie Leung, the Crown Estate was represented by Cluttons and Atis Real Weatheralls acted for DEFRA.

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