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In March 2005, Sir Robert McAlpine is expected to complete the construction of City Office’s (Greycoat) new 12,322 sq m (132,642 sq ft) Condor House office and retail scheme at 4 St Paul’s Churchyard, London, EC4. The building, known as Condor House, is being marketed by CB Richard Ellis. The building will provide a net office area of 10,033 sq m (108,000 sq ft). - (13-01-2005)
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UBS, the investment bank, is reported as having acquired Mondial House, 90, Upper Thames Street, London, EC4, from British Telecom for around £55m for it’s Triton fund. City Offices, the Greycoat subsidiary, is partnering UBS on the scheme which could include a refurbishment of building or redevelopment to provide over 46,451 sq m (500,000 sq ft). BT will take a two-year lease on the 37,160 sq m (400,000 sq ft) building to remove telephone switchgear having originally planned to redevelop the 1970’s building to a design by Foggo Associates. The site could also be incorporated into an adjoining site where the Corporation of London has been considering a development. - (10-07-2004)
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The Crown Estate is being tipped to appoint the partnership between Greycoat and Morley Fund Management as the developer of Chesham House at 132-154 Regent Street, London W1. The 9,662 sq m (104,000 sq ft) scheme designed by Squire and Partners, was recently granted planning permission and involves the demolition of the existing Grade II-listed Chesham House behind retained facades on Regent Street, Beak Street and Regent Place. The scheme will also create a new façade to Warwick Street and a new fifth floor. The basement, ground and first floor levels will house retail space, with office space provided on the upper levels. - (03-05-2003)
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The London Stock Exchange has submitted plans to the Corporation of London for the development of its site in Old Broad Street, London EC2. The Stock Exchange is to relocate to Paternoster Square in mid-2004 and is planning to sell its existing premises on gaining planning consent. The new plans, by architect Nicholas Grimshaw, include a major refurbishment of the 26-storey Exchange Tower and the development of two new buildings. An eight-storey block will be created on the site of the old trading floor and a five-storey building on the corner of Old Broad Street and Throgmorton Avenue. The scheme will provide 44,128 sq m (475,000 sq ft) of office space and also include 3,716 sq m (40,000 sq ft) of retail space. The London Stock Exchange is being advised by Greycoat subsidiary City Offices and Insignia Richard Ellis has advised on the plans. - (17-10-2002)
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Skanska is rumoured to have won the main construction contract on Greycoats' 1 London Wall office development in EC2. The scheme, designed by Foster & Partners, will provide about 28,980 sq m (311, 940 sq ft) of office space. Demolition of the existing building is underway and main construction is expected to start in March 2002. - (15-10-2001)
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TrizecHahn, the Toronto-based property investment company, and Rugby Estates, backed by UBS, the Swiss Bank, and Hilstone, the developer, are said to be shortlisted to compete to buy Taylor Woodrow's St Katherine's Dock development in London E1. The bidding for the 1970's development is said to be close to the asking price of £250m. The development comprises mainly residential units but includes a site with planning permission for a 16,722 sq m (180,000 sq ft) office scheme known as K2. Other losing bidders are said to include Marylebone Warwick Balfour, the property company, with JE Robert and Greycoat; Catalyst Capital with Blackstone, and Lehman Brothers, the US funds; and CIT. - (15-10-2001)
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The site of Sheldon House at 1 Paternoster Row could be developed by Greycoat. Earlier this year the Sheldon House and Transept House sites, owned by HSBC, were put on the market at a price said to be around £25m. Greycoat is said to be the favorite to win the site from Pillar Property, Helical Bar and Development Securities. CCF Charterhouse originally planned to occupy the 9,500 sq m (102,000 sq ft) new build scheme but these plans were abandoned when the firm was taken over by HSBC and then sold to ING. - (06-08-2001)
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Greycoat is to advise the London Stock Exchange on the redevelopment of its site on Old Broad Street, London EC2. The LSE will relocate from its 15,793 sq m (170,000 sq ft) of office space in
the 26-storey Exchange Tower in 2004. City Offices, owned and operated by the management of Greycoat, is thought to have beaten rival Stanhope to the consultancy role. The Stock Exchange is being advised by Insignia Richard Ellis.
- (14-07-2001)
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The Waterloo area could see the development of over 400,000 sq m (4.3 million sq ft) of office space in the future, under a new unitary development plan being discussed by London Borough of Lambeth. The council has just published an 'issues' paper about the future of the north of the borough and particularly the redevelopment plans for Waterloo mainline station. In the past local resident groups have fiercely opposed office development in the area, particularly the office and retail schemes for the Coin Street put forward by Greycoat in the 1980's. - (08-05-2001)
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Greycoat Estates is said to be about to sell its stake in Tower 42, the former NatWest Tower, in order to invest in central London office schemes. Greycoat's 32 per cent holding in Tower 42 could raise around £36m. Greycoat is expected to shortly start on the demolition of Moor House, 119 London Wall, London EC2, which is to be redeveloped as a 19-storey speculative schme of 44,658 sq m (480,710 sq ft). The construction contracts for Moor House are currently out to tender. - (05-11-2000)
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