Minerva has signed up Lockton International as anchor tenant for its St Botolphs development in the City of London.

As revealed by Property Week (05-10-07) the insurance broker has taken a 20 year lease for 84,000 sq ft, with an option to take a further 40,000 sq ft at a later date.

It is thought the rent agreed is around £45/ sq ft.

Ready for 2010

The St Botolphs scheme, designed by architect Grimshaw, will provide 560,000 sq ft of office and retail space in the City of London. It will be ready for completion in 2010.

Salmaan Hasan, chief executive of Minerva, said: ‘Lockton's decision validates our view that St Botolphs provides a high quality offer, attractive to today's multinational office occupier.'

Funding commitments are in place with HSH Nordbank and Landesbank Berlin to provide development finance for the project.