Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Life Science REIT secures renewed lease at Herbrand Street
(Sharecast News) - Life Science REIT said on Tuesday that fintech firm Thought Machine has renewed its commitment to its Herbrand Street property in London's 'Knowledge Quarter', signing a new seven-year lease as sole occupier of the building. The London-listed real estate investment trust said the lease, covering 68,600 square feet, had been agreed at a headline rent of £75 per square foot, in line with June estimated rental value, and included an upward-only review after the fourth year.
"Thought Machine's decision to extend their commitment at Herbrand Street is a testament to the distinctive nature of the building as well as its prime location in London's Knowledge Quarter," said Simon Farnsworth, managing director at Ironstone Asset Management, Life Science REIT's investment adviser.
Life Science REIT said the agreement also provided for a 16.5-month rent-free period and had been approved by the company's lending banks.
"We are delighted to agree a new lease at Herbrand Street with the support of Life Science REIT," commented Matt Wilkins, chief people officer at Thought Machine.
"This iconic London HQ gives our team the optimal environment to continue developing market-leading banking technology as we maintain our strong upwards growth trajectory."
Herbrand Street, a grade II listed building, was acquired by Life Science REIT in May 2022 and sits close to institutions including UCL, UCH and Great Ormond Street Hospital.
At 1429 BST, shares in Life Science REIT were up 2.06% at 39.6p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
