NB Real Estate - Mixed-Use Development - Covent Garden, London

Date: 29 Aug 2008

NB Real Estate has been appointed by Shaftesbury PLC to manage St Martin's Courtyard, a two acre mixed use joint venture scheme between Shaftesbury PLC and The Mercers Company. NB will manage the existing properties, working closely with the occupiers whilst the redevelopment takes place. The scheme will be completed in 2010.

Located between Long Acre, Upper St Martin's Lane, Shelton Street and Mercer Street in London's Covent Garden, the total site including the new development will comprise 100,000 sq ft of offices, 70,000 sq ft of retail, 45,000 sq ft restaurants and bars and 74 residential units.

This instruction brings the number of Shaftesbury schemes under NB management to five.

"NB Real Estate is one of the top three property managers in the UK, specialising in managing outsourced property portfolios. This contract follows several other major wins in the last year including Royal London, Sainsbury's, LaSalle and Henderson. It takes NB Real Estate's total managed portfolio to well over 25 million square feet," said Richard Williams, Managing Director of Property Management.

St Martin's Courtyard