Posted on May 21, 2013 by Rob Powell
OVER half the space in the new Leadenhall Building has been pre-let, a year before construction on the 47-storey building finishes.
Joint-venture partners British Land and Oxford Properties today announced a new deal which will see reinsurance firm Amlin Plc take around 20% of the space, joining other tenants such as AON in the building that has earned the nickname the Cheesegrater.
Today’s announcement of a binding lease comes six months after the parties announced they had agreed Heads of Terms.
Chris Grigg, Chief Executive of British Land said, “This significant second letting confirms The Leadenhall Building as a world-class building. We are very pleased to be in business with a company of the standing of Amlin, a market leader in the insurance sector.”
Paul Brundage, Executive Vice President, Senior Managing Director Europe of Oxford Properties said, “Our partnership with British Land at The Leadenhall Building has been a great success and this latest significant leasing deal with another prominent occupier evidences this. We look forward to welcoming Amlin to the building and fostering a long standing relationship with them.”
Charles Philipps, Chief Executive of Amlin plc said, “We are very pleased to be moving to The Leadenhall Building. It will be an uplifting new office for us in a building of high architectural quality and an unbeatable location directly opposite Lloyd’s Insurance market.”
The Leadenhall Building at 122 Leadenhall Street is due to complete mid way through 2014.
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Posted on May 17, 2013 by Offices.org.uk
ALMOST half-a-million square feet of office space will feature in the first phase of a new central London development with work to begin in June.
Commencement of the Victoria Circle scheme has been confirmed by joint ventures behind the project, Land Securities and the Canada Pension Plan Investment Board (CPPIB).
170 apartments and 80,000 sq ft of retail and restaurant space will also feature at the 5.5 acre site in London’s Victoria on which demolition work started last October.
Land Securities Chief Executive Robert Noel said:
“Land Securities was the first to start large-scale development after the downturn, a strategy which is generating higher returns at this point in the cycle. Today’s announcement is an extension of this strategy and a clear commitment to our on-going transformation of Victoria.”
CPPIB’s Senior Vice President, Graeme Eadie said:
“We are delighted to launch the first phase of this transformative development in a prime area of London’s West End. Victoria Circle supports CPPIB’s real estate strategy to own and develop properties in key markets for the long term.”
Completion of the project, which Mace had been appointed to undertake, is due in 2016 Q2.
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Posted on April 10, 2013 by Offices.org.uk
Archaeologists from MOLA working on site (Photo: Museum of London Archaeology)
Archaeologists working at the site of a new office development in the City of London have made incredible discoveries, some of which are almost two thousand years old.
A team from the Museum of London Archaeology (MOLA) have uncovered 10,000 finds at the three-acre Bloomberg Place which is at the heart of what was the City in Roman times.
Amongst the thousands of objects discovered, which span the entire period of the occupation of Britain by the Romans, are a Gladiator amulet, a Roman well, Roman coins and documents.
MOLA’s Sophie Jackson commented: “The site is a wonderful slice through the first four centuries of London’s existence. The waterlogged conditions left by the Walbrook Stream have given us layer upon layer of Roman timber buildings, fences and yards, all beautifully preserved and containing amazing personal items, clothes and even documents – all of which will transform our understanding of the people of Roman London.”
Bloomberg Place is a new 662,755 sq ft development which will be theEuropean headquarters for Bloomberg is expected to be completed in 2016 at which time the archaeological discoveries will go on show there in a new public exhibition.
Gladiator amulet (Photo: Museum of London Archaeology)
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Posted on March 25, 2013 by Offices.org.uk
ALL the residential homes in a Northampton Street will soon be knocked down to be replaced by offices.
The ten dwellings in Tanner Street, Northampton, are inside the Northampton Waterside Enterprise Zone and the West Northamptonshire Development Corporation (WNDC) was able to buy them using a Compulsory Purchase Order.
The WNDC Chief Executive Peter Mawson told a recent meeting that the properties would all be vacated soon, according to a report in the Northampton Chronicle.
“We’re starting to plan for the demolition of the properties in Tanner Street now. Within the next four to six weeks, all the properties in the street will be vacated,” the paper quotes him as saying.
The development agency plans 40,000 sqm of high quality office space in the Enterprise Zone, starting with a new £7.5 million innovation centre.
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Posted on March 18, 2013 by Offices.org.uk
THE LAST news bulletin to be aired from the BBC’s famous Television Centre went to air last night.
The ten o’clock news programme was presented live by Mishal Husain from Studio N6 at the television centre in Wood Lane, White City.
The bulletin concluded 45-years of news broadcasting from the centre, with the BBC’s news operation now moved to Broadcasting House in central London.
The much love buildings at television centre now have a new future as a mixed use development which will feature office space, entertainment and leisure facilities, public open space, offices, housing and a hotel.
Developer Stanhope are expected to submit an outline planning application next month.
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Posted on March 14, 2013 by Offices.org.uk
GLA planner John Lett speaking to London Assembly Planning Committee
UP TO a quarter of London’s office space could be lost because of government plans, a top planner at City Hall has warned.
The Department for Communities and Local Government published plans earlier this year that would allow offices to be turned in to residential properties without the need for planning permission.
Speaking before the London Assembly’s Planning Committee on Tuesday of this week, the Greater London Authority’s chief planner John Lett said the scheme would place 4 million square metres of office space in the London at risk.
Speaking against the move away from planning-led development, he said the transition of “useful employment units”, when they had had “come to the end of their useful life” needed to be “managed very carefully.”
Michael Bach from the London Forum of Amenity and Civic Societies used to work for the government in planning and told the committee that “this is one of the worst-designed policy proposals I’ve ever seen because it’s being rushed in with very little evidence base.”
Local authorities have been offered the opportunity to opt out of the changes where they can justify the exemption on economic grounds.
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Posted on March 12, 2013 by Offices.org.uk
BRISTOL City Council is to cut down down on its office space by 40% and move swathes of staff in to new £18million offices.
The deal to buy office space at 100 Temple Street, near Temple Meads, has been announced by the city’s first directly-elected mayor, George Ferguson.
It is believed that the consolidation of the local authority’s office space could lead to savings of £40million over the next twenty-five years.
Mayor George Ferguson said: “It makes complete sense for the council to vastly reduce the number of offices it currently owns or leases across the city, and consolidate into a few core offices. The location of 100 Temple Street is very strategic next to Temple Meads and the planned Metrobus interchange, as well as being right at the heart of our ambitious plans for Redcliffe and the whole Enterprise Zone area.
“The recession makes this a good time to make this purchase and it represents a good deal for the taxpayer. It is a sustainable solution that will bring long-term environmental benefits through our investment in energy efficiency measures.”
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Posted on February 26, 2013 by Rob Powell
THE NEW Walkie Talkie skyscraper in London has already leased over half its space with a over a year still to go on construction, say developers Land Securities.
A news release yesterday announced that the new development at 20 Fenchurch Street in the City of London has already leased 53% of its available office space.
A deal has been inked with two subsidiaries of of Boston-based Liberty Mutual Insurance that will see them occupy 117,336 sq ft of space across six floors of the building.
Nick Metcalf, President and Managing Director of Liberty Syndicates commented: “We are delighted to be able to consolidate our London offices. 20 Fenchurch Street is an iconic building and still enables us to be close to Lloyd’s and our brokers and clients.”
20 Fenchurch Street is a joint development between Land Securities and Canary Wharf Group plc. Construction on the project began in October 2010.
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Posted on September 25, 2012 by Rob Powell
LANDMARK offices around London threw open their doors last weekend and welcomed in the general public.
It was Open House weekend in the capital which gives a chance for visitors to experience, and learn about, architecture that might ordinarily be hidden away.
City of London offices that took part in the scheme included the Gherkin, UNISON centre, Lloyds of London, 1 Finsbury Circus, One New Change, Tower 42 and the Broadgate Estate.
The City of London Corporation showed off its impressive model of the Square Mile which shows current developments in London’s financial centre.
In all, 800 buildings took part in the Open House programme, which also included churches, cinemas, libraries and hotels.
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Posted on September 3, 2012 by Rob Powell
THE DUKE of York has abseiled down the UK’s tallest building – the Shard in central London.
Prince Andrew completed the daring stunt in aid of the Outward Bound Trust and the Royal Marines Charitable Trust.
“It’s a long way down. But it’s a fantastic view of London,” said the prince who saw active service during the Falkands War. he added: “Yes, I feel very good. I think I’ll go and have some breakfast now.”
Floors 4 to 28 of the recently-completed sky-scraper are available as premium office space. The building will also contain restaurants, a hotel and residential apartments.
More information about the project and its aims can be found here.
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