Minerva seals deal for law firm’s London base

DEVELOPER Minerva has secured a deal for a 20-year lease on one of its City projects with international law firm Clyde & Co.

The move comes as Minerva fights a £84.5m takeover bid form South African shareholder Nathan Kirsh.
Clyde & Co will base its new headquarters at the building in the 14-storey St Botolphs complex.

It will take 145,00 square feet of office space – bringing the total amount of space now let by Minerva to 45 per cent of the total site.

Clyde & Co will occupy levels ten to thirteen of the building, in Aldgate, at a rent of £48 per square foot – but will be given the first three years free.

St Botolphs, designed by architects Grimshaw, is due to be completed in 2010. The 1.25-acre site will include shops as well as office space.

Salmaan Hasan, chief executive of Minerva, said: “This is a clear indication of an improved outlook for the City office market.”