New Letting

RNS Number:8518M
City North Group PLC
27 June 2003



NEW LETTING - 25 WEST TENTER STREET



City North Group plc ("City North") is pleased to announce that it has agreed
terms for the letting of 25 West Tenter Street, London E1, ahead of its
completion on 1stJuly 2003. The development represents 7,174 net square feet of
category A office space, and is the final phase of a mixed residential/
commercial scheme, which City North has developed at 63 Mansell Street/23-27
West Tenter Street, London E1.


25 West Tenter Street has been let at an average rent of #22 per square foot,
representing #157,828 per annum. The lease is to be five years, with a six month
rent free period up until 1st January 2004. The in-coming tenant is Network
Research & Marketing Limited, one of the larger independent market research
companies in the UK.


Michael Sherley-Dale, the Managing Director of City North commented, "It is
pleasing to see City North's first new build office scheme let without delay.
The rent achieved represents a satisfactory outcome in difficult markets and is
a testament to the quality of building produced. City North designed and built
the scheme in-house and is delighted to welcome a successful commercial business
to the area. The development was valued at #1.3 million at 31 December 2002 as
an incomplete project, and the letting is expected to underpin future valuations
for the site."


City North was advised by Allsop & Co and Thompson Yates.




Enquiries:
Michael Sherley-Dale                                    020 7932 0403
Managing Director                                       [e-mail]





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