McKay Securities Completes 3 Office Lettings For GBP0.1M Per Year

15th Jul 2010 08:03

LONDON (Dow Jones)--McKay Securities PLC (MCKS.LN), a Real Estate Investment Trust focused on developing and investing in commercial property in the South East, said Thursday it has completed three office lettings totaling 13,125 sq ft at 30/32 Lombard Street, London, EC3, with a combined contracted rent of GBP134,750 pa and minimal letting incentives. MAIN FACTS: -The new tenants are Supinfo University (part ground and first floor), MMS Ltd (part ground floor) and People in Computers Ltd (sixth floor). -McKay obtained planning consent to redevelop the existing building (36,000 sq ft) with a top quality office scheme comprising 60,000 sq ft in 2007. -Development of the project was then deferred ahead of the economic downturn. -Since then, the Company's objective has been to maintain short term income from the building whilst retaining the flexibility to obtain vacant possession at the end of 2012. -These lettings leave the building fully occupied, with future development prospects improving in line with the City market. -Shares at 0702 GMT unchanged at 131.8 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 15, 2010 03:03 ET (07:03 GMT)