The joint venture between Great Portland Estates and Ropemaker Properties confirmed today it has signed up UBM to occupy the block – publisher of Building and Property Week.
The publisher will take take the top nine floors of the building and pay £4.9m a year in rent in a 15-year deal.
Some of the rent payments will be deferred to fund a £6m fit out of the shell
Demolition works on the site have been completed and Mace has beaten Skanska and Laing O’Rourke to be main contractor on the job,
The scheme will provide 223,383 sq ft of offices, 4,822 sq ft of retail space and 8,795 sq ft of residential in ten private apartments in an adjacent building.
Neil Thompson, Portfolio Director of Great Portland Estates said, “240 Blackfriars Road will be a prominent, high quality building of outstanding design which will help to continue the regeneration of this part of the Southbank.
“We look forward to working with UBM to build for them a world class UK headquarters building.”
Richard Bowers, Head of Estate Management at UBM plc said: ” We look forward to occupying such a prominent and impressive landmark building, which we intend to fit out to a high standard to create a vibrant collaborative and productive environment maintaining our long term future to this location.”