IDT Global - New European HQ & London Call Centre

Posted: 02/12/2006

US Telecoms provider IDT Corporation, a Fortune 1000 Company, through their UK subsidiary IDT Global, have acquired 43,000 sq ft (3,994.8 sq m) from BT at Defoe Court, Featherstone Street, London EC1 as their new European headquarters.

The building was originally refurbished in 1985 and incorporates air-conditioning, raised floors and car parking for 10 cars. Cyril Leonard's Building Consultancy Department undertook pre-purchase technical due diligence and surveys and were involved in the new letting and obtaining consents for refurbishment and fit out. Cyril Leonard have subsequently been instructed to undertake substantial refurbishment and fit out of the property for the client's occupation.

IDT entered into a new lease until 2013 at a rental of £616,110 p/a together with a rent-free period to account for modernisation works and the tenant's fit-out.