LONDON-Benchmark has let 30,885 sf of offices at Medius, its joint development with the Crown Estate at 2 Sheraton Street in the heart of Soho, central London. The Kodak subsidiary has taken 3,800 sf at lower ground level and 27,085 sf on the second and third floors at a rent of £1,286,000 ($2 million) per annum.

The fifteen-year lease incorporates a tenant’s option to break at the tenth year and a rent free period of 18 months from 4th October 2002. The 20,000 sf on the ground and first floors are available at a quoting rent of £49.50 ($77) per sf.

Cinesite is the visual effects subsidiary of Kodak and it is currently working on several major films currently in production in London including Harry Potter II; Tomb Raider II and Die Another Day, the latest James Bond film.

Benchmark Chief Executive Nigel Kempner said: “This supports my view that, if modern landlord controlled space is available in the West End, there are potential tenants in the market and we are cautiously optimistic about future levels of demand from both occupiers and investors over the next few years in the West End”.

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