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Building Reports 20/01/2014 Page 1 of 18 © 2014 Reed Business Information Ltd Building Report The Walkie Talkie, 20 Fenchurch Street, London, EC3M 3BY This address is also known as 20 Fenchurch Street, London, EC3M 3BY Walkie Talkie, 20 Fenchurch Street, London, EC3M 3BY Building Details Market: City Core Submarket: City Local Authority: City of London Ward: Langbourn Transport Links: Nearest Railway: Fenchurch Street Railway Station Nearest Airport: London City Airport Nearest Motorway: M1 - junction 1 Grid Reference: 53300 - 18080 Email us about this data record: [email protected] Web Address: www.20fenchurchstreet.co.uk Building Age: 2014 Building Size Retail (A1) - General Retail: Net sq m Business (B1a) - Office: 62,354 Net sq m (671,172 sq ft) General - Viewing Gallery: 1,066 Net sq m (11,476 sq ft) Office Occupation: Multi Occupation No Levels: 24 Listed: No Description: The site includes a 23 storey building built in the 1960s on Fenchurch St., a 6 storey building at 10 Rood Lane and the 7 storey Fengate House on Philpot Lane. The site is in use by a mix of office and retail space. The Eastcheap Conservation Area adjoins the site to the south. Plans were approved in September 2006 for a 160 metre office tower on this site. The new development is known as the 'Walkie Talkie'. Page 2 of 18 © 2014 Reed Business Information Ltd Players and Roles Role Company Contact Phone number Notes Freeholder Canary Wharf Group 020 7418 2000 purchased 50% stake from Land Securities in plc 10/2010 Freeholder Land Securities Group 020 7413 9000 sold 50% stake to Canary Wharf Group in 10/2010 EGi Deals Sales Deal Date: 01/10/2010 Players/Roles Deal Type: Investment Sale Vendor: Canary Wharf Group plc Tel: 020 7418 2000 Vendor: Land Securities Group Tel: 020 7413 9000 Type of Space: General - Site Area 64,103 Net sq m (689,994 sq ft) Price: £90,200,000 Yield: Not quoted Rent: Not quoted Lease Start: Undisclosed Lease Expiry: Undisclosed Notes: A 50% stake was sold Email us about this deal: [email protected] Lettings Deal Date: 01/01/2014 Players/Roles Unit/Floor Number: 28th floor Lessee: Vanquis Bank Limited Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Deal Type: Lease Lessor: Land Securities Group Tel: 020 7413 9000 Type of Space: Business (B1a) - Office Lessors Agent: CBRE Tel: 020 7182 2000 2,458 Net sq m Lessors Agent: Knight Frank Tel: 020 7606 0606 (26,461 sq ft) Rent: Not quoted Lease Start: 01/01/2014 Lease Expiry: Undisclosed Terms: FRI Notes: Particulars:PDFDate on the market: 01/04/2006 Grade of space: New - New build (under construction) Email us about this deal: [email protected] Deal Date: 01/12/2013 Players/Roles Unit/Floor Number: 20th floor Lessee: Liberty Mutual Insurance Company (UK) Limited Lessees Agent: CBRE Tel: 020 7182 2000 Deal Type: Lease Lessors Agent: CBRE Tel: 020 7182 2000 Type of Space: Business (B1a) - Office Lessors Agent: Knight Frank Tel: 020 7606 0606 1,842 Net sq m (19,823 sq ft) Rent: Not quoted Lease Start: 01/12/2013 Lease Expiry: Undisclosed Terms: FRI Page 3 of 18 © 2014 Reed Business Information Ltd Notes: Particulars:PDF Email us about this deal: [email protected] Deal Date: 01/12/2013 Players/Roles Unit/Floor Number: 29th floor Lessee: Lancashire Holdings Limited Lessees Agent: Savills Tel: 020 7499 8644 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 0141 331 4400 2,527 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (27,201 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: Not quoted Lease Start: 01/12/2013 Lease Expiry: Undisclosed Terms: FRI Notes: Particulars:PDFDate on the market: 01/04/2006New - New Build (under construction) Email us about this deal: [email protected] Deal Date: 01/07/2013 Players/Roles Unit/Floor Number: 25th floor Lessee: Markel (UK) Limited Lessees Agent: Jones Lang LaSalle Tel: 020 7248 6040 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 020 7413 9000 2,273 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (24,465 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: £699.66 per sq m (£65.00 per sq ft) Rental Income: £489,300.00 per annum Length: 20 years Lease Start: 01/07/2013 Lease Expiry: 01/07/2033 Terms: FRI Notes: Particulars:PDFDate on the market: 01/04/2006 Email us about this deal: [email protected] Deal Date: 01/02/2013 Players/Roles Unit/Floor Number: 21st, 22nd and 23rd floors Lessee: Liberty Syndicate Management Limited Lessees Agent: CBRE Tel: 020 7182 2000 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 020 7413 9000 6,161 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (66,320 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: Not quoted Lease Start: 01/02/2013 Lease Expiry: Undisclosed Terms: FRI Notes: Date on the market: 01/04/2006 Liberty Syndicates will occupy floors 21-23 while Liberty Mutual Insurance Europe will occupy floors 10-12. (EGi 25/02/2013, Walkie Talkie now 53% let) Email us about this deal: [email protected] Page 4 of 18 © 2014 Reed Business Information Ltd Deal Date: 01/02/2013 Players/Roles Unit/Floor Number: 10th, 11th and 12th floors Lessee: Liberty Mutual Insurance Company (UK) Limited Lessees Agent: Newton Perkins Tel: 020 7456 0700 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 020 7413 9000 4,739 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (51,015 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: Not quoted Lease Start: 01/02/2013 Lease Expiry: Undisclosed Terms: FRI Notes: Date on the market: 01/04/2006 Email us about this deal: [email protected] Deal Date: 01/01/2013 Players/Roles Unit/Floor Number: 14th, 15th, 16th and 17th floors Lessee: Royal Sun Alliance Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Deal Type: Lease Lessor: Land Securities Group Tel: 020 7413 9000 Type of Space: Business (B1a) - Office Lessors Agent: CBRE Tel: 020 7182 2000 7,141 Net sq m Lessors Agent: Knight Frank Tel: 020 7606 0606 (76,860 sq ft) Rent: Not quoted Lease Start: 01/01/2013 Lease Expiry: Undisclosed Terms: FRI Notes: Date on the market: 01/04/2006 Email us about this deal: [email protected] Deal Date: 01/11/2012 Players/Roles Unit/Floor Number: 33rd floor Lessee: Ascot Underwriting Lessees Agent: Savills Tel: 020 7499 8644 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 020 7413 9000 2,734 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (29,429 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: £753.48 per sq m (£70.00 per sq ft) Rental Income: £2,060,030.00 per annum Lease Start: 01/11/2012 Lease Expiry: Undisclosed Terms: FRI Notes: Date on the market: 01/04/2006 Email us about this deal: [email protected] Deal Date: 01/09/2012 Players/Roles Unit/Floor Number: 5th, 6th, 7th, 8th and 9th Lessee: RJ Kiln & Co Limited Lessees Agent: Newton Perkins Tel: 020 7456 0700 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 020 7413 9000 7,267 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (78,225 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: £645.84 per sq m (£60.00 per sq ft) Rental Income: £4,693,560.00 per annum Lease Start: 01/09/2012 Lease Expiry: Undisclosed Terms: FRI Notes: Date on the market: 01/04/2006Asking rent: per Sq Ft Email us about this deal: [email protected] Page 5 of 18 © 2014 Reed Business Information Ltd Deal Date: 01/06/2012 Players/Roles Unit/Floor Number: 26th and 27th Lessee: Markel International Insurance Company Limited Lessees Agent: Jones Lang LaSalle Tel: 020 7248 6040 Deal Type: Lease Lessor: Canary Wharf Group plc Tel: 020 7418 2000 Type of Space: Business (B1a) - Office Lessor: Land Securities Group Tel: 020 7413 9000 4,784 Net sq m Lessors Agent: CBRE Tel: 020 7182 2000 (51,498 sq ft) Lessors Agent: Knight Frank Tel: 020 7606 0606 Rent: £699.66 per sq m (£65.00 per sq ft) Rental Income: £3,230,370.00 per annum Length: 20 years Lease Start: 01/06/2012 Lease Expiry: 01/06/2032 Terms: FRI Notes: Rent is as reported in EGi Email us about this deal: [email protected] Investment Transactions Deal Date: Freehold - 01/10/2010 Price Achieved: £90.2m Vendor: Land Securities Group Tel: 020 7413 9000 Purchaser: Canary Wharf Group plc Tel: 020 7418 2000 EGi Occupiers Summary Table Occupier Unit Date Size Telephone Taken Ascot Underwriting 33rd 01/11/2012 2,734 sq m (29,429 sq ft) 020 7743 9600 Lancashire Holdings Limited 29th 01/12/2013 2,520 sq m (27,128 sq ft) 020 7264 4000 Liberty Mutual Insurance Company 10th, 11th and 12th 01/02/2013 4,739 sq m (51,015 sq ft) 020 7860 6600 (UK) Limited Liberty Mutual Insurance Company 20th 01/12/2013 1,842 sq m (19,823 sq ft) 020 7070 4472 (UK) Limited Liberty Syndicate Management Limited 21st, 22nd and 01/02/2013 6,161 sq m (66,320 sq ft) 020 7070 4472 23rd Markel International Insurance 26th and 27th 01/06/2012 4,784 sq m (51,498 sq ft) 020 7953 6000 Company Limited Markel International Insurance 25th 01/07/2013 2,273 sq m (24,465 sq ft) 020 7953 6000 Company Limited RJ Kiln & Co Limited 5th, 6th, 7th, 8th 01/09/2012 7,267 sq m (78,225 sq ft) 020 7886 9000 and 9th Royal Sun Alliance 14th, 15th, 16th 01/01/2013 7,141 sq m (76,860 sq ft) 084 5077 2772 and 17th Vanquis Bank Limited