Hannibal House, the 8,361 sq m (90,000 sq ft ) 12-storey office building at the Elephant & Castle, London, is being refurbished by Key Property Investments Ltd, the joint venture between St Modwen Properties PLC and Salhia Real Estate Co, to add to its existing portfolio of business centres.
KPI is carrying out an initial £300,000 refurbishment on Hannibal House, which is above the Elephant & Castle Shopping Centre, following the expiry of the lease to the Department of Health with more investment totalling in excess of £1 million to follow as the refurbishment programme progresses.
Gary Morris of St Modwen, said: “The announcements by the London Borough of Southwark targeting the demolition of the excisting centre in 2010 have meant that it would be difficult, if not impossible, for us to attract a long term occupier.
“Instead, we will be offering space in the building from suites of 13 sq m (140 sq ft ) to whole floors of 771 sq m ( 8,300 sq ft) on short/medium term flexible leases. They will be available for occupation from January. We are making this investment in the building despite its potential short life given London Borough of Southwark’s regeneration proposals, underlining our commitment to the area and our determination to keep the existing centre vibrant until a replacement is prepared.”
DTZ and Kalmar Commercial are joint letting agents.
For further information contact Gary Morris of St Modwen on 020 7499 5666. Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).