RDI REIT PLC Planning Permission Granted for Charing Cross Road (9868A)
June 04 2019 - 2:00AM
UK Regulatory
TIDMRDI
RNS Number : 9868A
RDI REIT PLC
04 June 2019
RDI REIT P.L.C.
("RDI" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745
127 Charing Cross Road - Planning Permission Granted for Three
Floor Extension
RDI, the income focused UK-REIT, is pleased to announce that it
has received a resolution to grant planning permission to deliver a
significant extension at 127 Charing Cross Road, London.
The permission will provide for a 47 per cent increase in the
overall area of the property to 56,576 sq ft through the
development of an additional three floors of office space and an
improved reception. The scheme has been designed with an impressive
ground floor arrival, efficient floorplates, natural light on three
sides, a number of private terraces and a communal roof terrace.
The building is currently fully let and is anticipated to remain
occupied until 2021.
The property is extremely well located, approximately 150 metres
from the new Tottenham Court Road Crossrail station. The area
benefits from large scale infrastructure investment and mixed-use
development activity, whilst only a short walk from Soho, Covent
Garden and Trafalgar Square. This wholesale regeneration, combined
with strong transport access, is attracting high levels of
pre-letting activity of neighbouring office developments at record
rental levels demonstrating the strong occupier demand for the
location.
Adrian Horsburgh, Property Director at RDI, commented:
"This is a fantastic result, which provides us with the
opportunity to significantly enhance the size of the property
without undertaking a complete redevelopment. Recent pre-lettings
in the area have been achieved at record rental levels and with
momentum building towards the opening of Crossrail in 2021 and
other surrounding regeneration activity moving towards completion,
we believe this property will be very well positioned to capitalise
on the growing attraction of this prime area of London."
For further information:
RDI REIT P.L.C.
Mike Watters, Stephen Oakenfull, Tel: +44 (0) 20 7811
0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney Tel: +44 (0) 20 3727
1000
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447
3030
JSE Sponsor
Java Capital Tel: + 27 (0) 11
722 3050
Note to editors:
About RDI
RDI is an income focused UK REIT with a diversified portfolio
invested principally in the UK. The investment approach is driven
by an in depth understanding of occupational demand including the
impact of technology, transport and infrastructure investment. The
portfolio has been repositioned in recent years to increase its
weighting to London and the South East and to provide greater
exposure to our leading hotel and serviced office operating
platforms.
RDI is committed to delivering attractive income led total
returns across the real estate cycle. The current strategic
objectives of a lower leverage capital structure and more focused
allocation of capital are targeted at delivering an industry
leading and sustainable income return.
RDI is a UK Real Estate Investment Trust (UK-REIT) and holds a
primary listing on the London Stock Exchange and a secondary
listing on the JSE. The Company is included within the EPRA, GPR,
JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's
website www.rdireit.com
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END
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