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Grosvenor

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Mayfair redevelopment

Mayfair start tipped

Mayfair scheme start

Final Bankside blocks

Mayfair scheme start

Mayfair start imminent

Mayfair start

Mayfair scheme to start

Fund to refurbish offices

Mayfair scheme consent

Mayfair office redesign

New Mayfair consent

Crossrail redevelopment scheme

St James' refurbishment

Mayfair consent

Consent for Mayfair redevelopment

Mayfair consent

Bidders for Mayfair site

Mayfair scheme application

Mayfair scheme go-ahead

Occupier to free up space

Mayfair scheme negotiations

Mayfair refurbishment start

Mayfair completion

New Mayfair office scheme

Another record rent in West End

SW1 scheme tipped

Mayfair scheme start

Refurbishment underway in Mayfair

Station sites shortlist

Demolition start in Mayfair

Consent for Mayfair scheme

Belgrave House lettings

March start for new Grosvenor

77 Grosvenor Street underway

New offices completed.

77 Grosvenor Street plan

Makeover on Oxford Street?

Belgrave House topped out

21 Grosvenor Place sold

Enron House under offer

Competition in Basinghall Street

40 Grosvenor Place fittings sale

New West End schemes

New offices on Oxford Street

Start date for 9-13 Grosvenor Street

Start date for Belgrave House

Main contractor for Walker House

Hammerson plans summer start

Start on site at 25 Moorgate.

New plans for 68 King William Street EC4

Grosvenor assembles City redevelopment site

Grosvenor Estate to refurbish Moorgate space?

Grosvenor rumoured to be increasing stake in Wates

London: 30 new office schemes in Q1

London Springs Forward

The first quarter of 2011 marked the beginning of a new cycle in London’s office construction. Since January 2011, Cityoffices research has revealed that 30 new office schemes have seen starts on demolition and construction work. Schemes such as Africa House, Howick Place, Grosvenor Hill, and 20 Fenchurch Street (full list at cityoffices.net) are just some of those now underway. When completed, these schemes will add over 5.5m sq ft to London’s available office space.

These 30 schemes appear to be speculative as none of the developers has yet announced a pre-let; although 30,000 sq ft is rumoured to be under offer at Waterhouse Square.

It is possible that the start on the two towers; 20 Fenchurch Street, by Land Securities, and the Leadenhall Building, by British Land, both in EC3, may have prompted other developers to get schemes underway and completed before the two towers are on-stream in 2014.

Almost half the new developments underway are refurbishments. Many of these refurbishments do not require planning permission and are being bought forward quickly for the period 2011 to 2014 to meet a perceived short-term ‘gap’ in office supply.



These refurbishments include the upgrading of former premises of large companies which have recently moved into new developments. Examples include the former Cancer UK HQ at 40 Kingsway, WC2, and the former DEFRA building in Page Street, SW1.

Our research shows that a further tranche of construction should be underway in the second quarter of 2011, with a number of developers now appointing construction teams and initiating archaeological digs in advance of spring/summer starts. CityOffices is now monitoring over 100 office schemes in central London that could start this year. - (12-04-2011)

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Record West End letting

BlueBay Asset Management, the alternative investment firm, has taken the remaining first, second and third floors of 3,344 sq m (36,000 sq ft) at Morley Fund Managements’ recently completed 77 Grosvenor Street, London, W1 at a record £117 psf. - (25-05-2007)

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Grosvenor Crescent start

Grosvenor Properties, the developer, has appointed Walter Lilly for the £27m mixed use redevelopment of 3-10 Grosvenor Crescent, London, SW1. The scheme, on the site of the former Red Cross HQ, includes a small amount of office space (believed to be about 930 sq m) plus 17 apartments. Enabling works are underway and completion is planned for early 2009. - (24-08-2006)

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Glasnost - Online Project, Contact & Image Management

Leases unravelled at Belgrave House

Boodle Hatfield, the UK law firm acting for Grosvenor, is understood to have unravelled the BP leashold interest at Belgrave House, 76 Buckingham Palace Road, London SW1. BP is thought to be paying a reverse premium to end the leasehold interest and the agreement is said to include 'overage' arrangements. Belgrave House, a 1970's building, which is currently vacant, is planned to be demolished by Grosvenor. The scheme will also incorporate the Grade II listed Chantrey House. Planning consent has been granted following completion of a Section 106 (planning gain) agreements. The development should start on site in November 2001. - (27-09-2001)

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Grosvenor may buy 41 Lothbury

Grosvenor, the private property company, is said to be in advanced negotiations to buy 41 Lothbury, London EC2 from the Royal Bank of Scotland. The scheme has planning approval for the refurbishment and partial redevelopment of the 9-storey, Grade II listed, building, the former National Westminster headquarters. The scheme involves a change of use from a banking hall to office (B1) use, with retail and restaurant space. The net office floorspace proposed is estimated to be about 13,935 sq m (150,000 sq ft). DTZ Debenham Tie Leung is thought to be advising RBS and CB Hillier Parker is acting for Grosvenor. - (29-07-2001)

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Grosvenor wins planning consent

The Grosvenor Estate has been granted planning permission for its planned refurbishment and extension to provide office space at Belgrave House, 76 Buckingham Palace Road, London SW1. Belgrave House is the former headquarters of BP Amoco and the new £60m scheme will provide around 22,296 sq m (240,000 sq ft) of office space. Grosvenor owns the freehold of the building and a private investor has the long leashold. The adjoining Chantry House is planned to be converted to provide 37 residential units and a restaurant on the ground floor and basement. The architect for the project is Michael Squire & Partners. - (18-06-2001)

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British Land may be in lead for Mayfair estate

British Land is now said to be the front runner to buy the 10-acre Berkeley Square estate in Mayfair W1 from the BP Pension fund. It is thought that an offer of around £300m has been made by the company that is on a shortlist of bidders that may also include the Barclay twins and Moorfield, the property group, Simon Hallabi, a Syrian-born investor, Grosvenor Estates, and the Saudi Arabian Royal family. The BP Pension fund acquired the portfolio in 1967 for around £12m. The sale is being dealt with by Richard Womack at CB Hillier Parker. It is said that unsuccessful bids have been made by Minerva, Benchmark, and Green Properties and an unnamed US investment bank. - (09-04-2001)

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Victoria plans revived

Plans by Railtrack to redevelop the major rail interchanges in central London continues apace. A £250m mixed-use redevelopment scheme for Victoria Station, London SW1, first mooted in the mid-1990's, is being revived. Railtrack is said to be working on a revised masterplan for the Victoria site, which could see an office and retail development of about 46,451 sq m (500,000 sq ft) built at the station. The latest scheme seems likely to integrate a new bus terminal within the scheme with offices above. In addition to the Victoria proposals Railtrack is currently working on plans for 'office-led' mixed-use schemes at Paddington, London Bridge, Kings Cross and with Pillar at Cricklewood, north London. There have also been rumours of investigations by Railtrack on the potential of redeveloping at Waterloo. At Victoria, Railtrack is said to be about to undertake a study, along with other developers with schemes in the area, to assess the level of demand. The developers could include Land Securities, Grosvenor Estate, and Howard Ronson International. The total future potential of developments in the Victoria area amount to over 1.5m sq ft of office space. An end-user 'demand' survey would be no doubt be helpful as at present everyone seems to be chasing Enron, the US energy company, which has the largest known West End requirement. - (26-03-2001)

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Benchmark bid for BP Amoco portfolio

Benchmark is reported to have bid nearly £300m for the 100 properties around Berkeley Square, London W1, put up for sale by the BP Amoco pension fund. Other bids submitted last week are said to include those from Minerva and the Grosvenor Estate. BP Amoco is holding the property auction at a time when headline rents in the area are passing £861 per sq m (£80 per sq ft). - (25-03-2001)

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Grosvenor submits planning application

The Grosvenor Estate has submitted a planning application for the refurbishment and extension to provide B1 office space at Belgrave House, 76 Buckingham Palace Road, London SW1. Belgrave House is the former headquarters of BP Amoco and the new scheme will provide around 22,296 sq m (240,000 sq ft) of office space. Chantry House will be converted to provide 37 residential units and a restaurant in the ground and basement. - (05-11-2000)

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