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Google Ends London Search with Soho Acquisition

LONDON-Google UK, the European arm of the search engine operator, has signed up for 14,596 sf of offices in Derwent Valley Holdings' The Courtyard office refurbishment on Charing Cross Road, WC2.

By Graham Parker | Updated on June 03, 2003

LONDON-Search engine operator Google UK has taken 14,596 sf of offices in The Courtyard, Derwent Valley’s office refurbishment scheme on Charing Cross Road, London WC2. The Soho area had proved popular with dot.com companies during the Internet boom of the late 1990s, but activity has slowed recently.

Google is paying £510,860 per ($835,000) per annum for a ten year lease with an upwards only rent review at the fifth year. The tenant will receive a nine month rent-free period, as well as a capital contribution equating to nine months’ rent. The tenant has an option to break the lease at the end of the fifth year but if this is exercised, a six month rent penalty will be payable.

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