3i and Land Securities agree terms on new London location

14 Feb 2005

3i Group plc, Europe's leading private equity company and Land Securities Group PLC, the UK's largest quoted property company, announce that terms have been agreed for 3i to move its London office to Land Securities' new development at Cardinal Place. 

3i will be taking a lease over three floors of the recently completed 16 Palace Street, Victoria, SW1, accommodating all of its London staff.

Patrick Dunne, 3i's Group Communications Director said:

"Cardinal Place is an excellent location which will provide a modern working environment for our employees and partners, and reflect 3i's position as a leading international private equity firm."

Mike Hussey, Land Securities' Managing Director, London Portfolio added:

"Our confidence in Victoria as a location for prominent corporate occupiers and the calibre of the Cardinal Place development are reflected in this agreement with 3i - we are delighted to welcome them as a new Land Securities' client. "

Colliers CRE acted for 3i, Jones Lang LaSalle acted for Land Securities.

Notes to editors

3i Group plc
3i is a FTSE100 company and world leader in private equity and venture capital.  We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia Pacific.

Our competitive advantage comes from our international network and the strength and breadth of our relationships in business.  It underpins the value that we deliver to our portfolio and to our shareholders.

3i's investor relations website is www.3igroup.com

3i London offices are currently at 91 Waterloo Road which houses about 300 staff on 12 floors of office space.

Land Securities Group PLC
Land Securities is a FTSE 100 company, quoted on the London Stock Exchange.  It has been at the forefront of the UK's commercial property industry for 60 years.  Today, the Group maintains its market leading position as the UK's largest quoted property company by providing commercial accommodation and property services to a wide range of occupiers.  The Group's objective is to create attractive and sustainable returns for its shareholders through its activities, which include property investment, development and property outsourcing.

Land Securities holds a market leading position in three areas of the UK commercial property market:

  • Retail,
  • London offices and
  • Property outsourcing

Its £8.7 billion investment portfolio includes more than 810,000 m2 of office space in Central London and substantial retail holdings in Oxford Street, Tottenham Court Road and Notting Hill Gate.  In addition the Group owns 18 shopping centres and 25 retail parks located across the UK. 

It has a substantial development programme with a number of development projects including major retail-led urban regeneration schemes and Central London mixed-use developments.  The Group is also master planning one of Europe's largest regeneration schemes in Kent Thameside.

For more information on Land Securities visit www.landsecurities.com