Virgin Media first took occupation at Lloyds Court in 2013 taking the tail end of a 25 year lease to another telecommunications company. In 2014 they renewed their tenancy for a further 10 years. The site is important to Virgin because of the infrastructure they have on site, and they wished to secure their occupation for the longer term. We are very pleased to have completed a new 20-year reversionary lease to Virgin to commence on expiry of the current lease in 2024, taking the term expiry to 2044.
The security given to Virgin Media has enabled them to invest new resources in repairs and upgrades to the property, whilst Croudace benefits from the longer commitment from a great tenant.