DEVELOPER Land Securities has announced the purchase of a two acre development site in the City of London.

The company had previously announced an option to buy the site at 21 Moorfields, which was home to Lazard investment bank and also includes a TFL work site.

Late last year, plans were unveiled for the project which include two new office buildings with 400,000 sq ft and 110,000 sq ft of office space respectively.

A planning application for the proposal, which sits above the new Moorgate Crossrail station, was submitted to City of London planners in November.

Commenting on the purchase, Colette O’Shea, Managing Director, London Portfolio at Land Securities, said: “This is a site with fantastic potential and superb connectivity, located in the heart of the City, adjacent to Moorgate station and the western entrance to Liverpool Street Crossrail station.”

Speaking on behalf of TFL, who have an option to participate in the development, Director of Commercial Development Graham Craig, said: “This deal with Land Securities is a fantastic example of the work we’re doing to make the most of our assets whilst generating long-term revenue for us to reinvest back into our network. Our partnership will enable the development of office space in the heart of London as well as retail space.”

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