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RDI REIT PLC - 127 Charing Cross Road - Planning Permission Granted for Three Floor Extension

Release Date: 04/06/2019 08:00
Code(s): RPL     PDF:  
 
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127 Charing Cross Road - Planning Permission Granted for Three Floor Extension

RDI REIT P.L.C.
("RDI" or the "Company")
(Incorporated in the Isle of Man)
(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

4 June 2019

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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