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London Offices – An Olympic Year?

Contractor in W6

Refurbishment in EC2

Construction suspended

Central London - a Sack Full of Refurbs

Contractors battle it out

Hammersmith start planned

Paddington tower mooted

Consent for Spitalfields scheme

City refurbishment plan

City consent

Hammersmith consent

Skyscraper becomes tower

London tower deal

Long-awaited City application

St Alphage House new plans

Early stages on City site

Revised scheme unveiled

Office tower letting

City building plans

Revised scheme plans in Hammersmith

Delay for City scheme

Refurbishment possible

Revised plans to be submitted

Bishops Place update

Developer pushes ahead

Smithfield negotiations

Hammersmith start planned

EC3 site changes hands

New plan for City site

Hammerson eyes huge EC2 scheme

CapCo plans major scheme

Hammersmith application

City scheme nears completion

Soho refurbishment

Delay for Spitalfields tower

JP Morgan changes plans

Delay for Hammersmith scheme

DTZ letting confirmed

Helical for Hammersmith

Hammersmith scheme poised for start

Pre-let in EC2

Hammeron application

Spitalfields plans

Contractor tipped in EC2

Hammersmith scheme application

Bank makes major City HQ decision

Terrace Hill acquire

Hammersmith site

Hammersmith scheme developer

City scheme start

Ark refurbishment

Hammerson revive 1m sq ft City scheme

Contractor for EC2 scheme

Contractor lined up for £75m redevelopment

Hammersmith plans

Moorhouse letting

Hanover Square letting

Paddington office scheme planned

Hammerson begin work in EC2

One London Wall letting

Threadneedle Street green light

Cricklewood redevelopment latest

L&R preferred for M&S HQ

Huge City fringe site discussions

Multiplex joins Cricklewood scheme

Stock Exchange to complete in 2008

Lehman Brothers close to finding partner?

Completion dates for Hammerson schemes.

Hammerson buys-up Moorhouse development

British Waterways progresses E14 Wharf

Moor House aiming for late 2004

New offices completed.

Hammerson see some light

Hammerson sells to CGI.

Hammerson to acquire Railtrack sites

Spitalfields scheme approved

Excess of new offices for 2003?

Start date for 9-13 Grosvenor Street

Hammerson plans summer start

Possibly a 'one horse race' at Paddington Basin

Hammerson pre-let to Withers

Bishops Place approved

Hammerson has had its Bishops Place regeneration project approved yesterday by LB Hackney. The revised scheme includes 233 Shoreditch High Street (the Light Bar building) and relates to a 1.3ha (3 acre) site in London, E1. The 1.5m sq ft project, designed by Foster + Partners, will include about 59,922 sq m (645,000 sq ft) of offices, a hotel, residential, and retail space. - (05-11-2009)

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Derwent call halt

Derwent London, the property developer, has said that it is not planning to start any new commercial developments until 2010 or 2011. The company has made the decision because of the credit crunch and the fall in occupier requirements for new space. Derwent has three buildings under construction and has let 408,000 sq ft in the last nine months, and has a further 35,000 sq ft of office space under offer. John Burns, chief executive, has said that the next two years are about "good housekeeping" and his comments mirror those expressed by Great Portland Estates, Hammerson and Liberty International. - (20-11-2008)

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Developers freeze projects

Great Portland Estates has said that it is putting new developments on hold until the end of 2010 at the earliest and maybe later. Toby Courtauld, chief executive, sees “a significant downturn and the demand side has deteriorated quite strongly”; He has commented that there has been a 66% fall in active demand in the West End of London over the past six months, and this is seen as continuing. The company priorities are now capital conservation, maximizing occupancy levels and crystallizing reversions. Hammerson and Liberty International have also delayed development activity and put major developments on hold in 2009. - (15-11-2008)

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Glasnost - Online Project, Contact & Image Management

Hammerson pick and mix

Hammerson has selected a plethora of architects for the redevelopment of Victoria Station. Hammerson and Network Rail are proposing to develop three office towers each designed by a different architect. The architects appointed are Rafael Vinloy, Nicolas Grimshaw and GMW Partnership. In total the scheme could provide 74,322 sq m (800,000 sq ft) of office space. One of the architects will also be appointed to redesign the ticket hall and concourse. - (01-02-2007)

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Hammerson deal at Northgate

Hammerson has entered into a £4.1m three-year option agreement with London Borough of Hackney to acquire the long term leasehold interest in Northgate, at Worship Street and Curtain Road, London, EC2, adjoining the Norton Folgate site already owned by the group. Lehman Brothers has agreed to end its current option arrangement on the Northgate site which has permission for 71,500 sq m (770,000 sq ft) of offices. Hammerson already has permission for a 20-storey office of 18,600 sq m (200,000 sq ft) on the Norton Folgate site. Hammerson is to submit a planning application later in the year for a revised mixed-use development of 79,000 sq m (850,000 sq ft), with about 43,000 sq ft (463,000 sq ft) of offices, hotel, and residential apartments. - (01-08-2005)

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Bath House goes under the hammer.

Investment company, Favermead Assets has decided not to redevelop the largely vacant 1960s Bath House, 52-60 Holborn Viaduct, London, EC1A 2DY and has instead decided to sell it. The company has planning permission to replace the building with a speculative, eight storey mixed scheme including 14,000 sq m (150,700 sq ft) of offices, plus ground floor retail. The building is nearly opposite the City Thameslink station northern entrance and adjacent to Lovells new HQ. Favermead will have disposed of the site within the next 4-6 weeks. Nelson Bakewell is advising Aside from the ground floor retail space the building is empty. Sheppard Robson was the architect. - (09-04-2005)

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Hammerson sees rents rising

Hammerson is predicting that the London office market will see rents rise in 2006 and fewer incentives being on offer this year. Hammerson has one-third of its portfolio in offices and a vacancy rate of 28.3%, mainly because of its four central London buildings. The comments by John Richards, chief executive, were made as Hammerson announced that John Nelson, former chairman of Credite Suisse First Boston, is to become chairman of Hammerson at the end of September, when Ronald Spinney retires as chairman. - (01-03-2005)

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Hammerson predict rent rise

Hammerson is predicting a rise in office rents in the City of London in 2005, with John Richards, chief executive, being quoted as saying “Rent-free periods in the City will shorten this year and rents will rise next year”. City office buildings account for 20 per cent of the company’s UK portfolio and have seen a rise in value by 4.8% to £540.8m. In the West End rents were 5 per cent to 10 per cent higher than in 2003. Hammerson’s West End portfolio accounts for about 2 per cent of the company’s UK portfolio and saw a 12.8 per cent rise in value to £81.7m. - (25-08-2004)

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Hammerson to redevelop Stock Exchange

The London Stock Exchange has sold the freehold of Exchange Tower and a site at 24, Throgmorton Street, London, EC2 to Hammerson, the property developer, in a deal worth about £67m. The site has planning consent for 45,522 sq m (490,000 sq ft) office and retail scheme designed by Nicholas Grimshaw & Partners, which involves the refurbishment of the tower and a new build office and retail block. - (07-02-2004)

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Hammerson sale falls through

Hammerson has issued a statement on the London Stock Exchange to the effect that its deal to sell three office buildings to Fordgate, a private company, has fallen through. Fordate was to have paid around £122m for 21 Moorfields, London EC2, and Grant Thornton House and 40, Melton Street, Euston Square, NW1. Hammerson has said that it has "fulfilled the outstanding conditions" and that "the proposed purchaser has failed to complete the transaction in accordance with the contract". Hammerson has therefore terminated the contract and appears to be intending to retain Fordgate's deposit and seek redress. Fordgate has responded to Hammerson's statement saying it was "factually incorrect and libellous... No subsidiary of Fordgate Limited asn contracted to acquire the properties mentioned". - (26-11-2003)

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Hammerson sell London offices

Hammerson, the property company, has sold three office blocks to reduce its exposure to the central London office market. Fordgate, a private company, has paid around £122m for 21 Moorfields, London EC2 (151,000 sq ft), and Grant Thornton House (69,000 sq ft) and 40, Melton Street (116,000 sq ft), two buildings that are part of the Euston Square Estate. 21 Moorfields is vacant but leased to Lazard Brothers until 2008. Hammerson had plans to redevelop the site and as part of the sale agreement is understood to have retained a role as development manager and an option to participate in any redevelopment. At Euston Square, Grant Thornton House is leased to Grant Thornton and 40, Melton Street is leased to Network Rail. Hammerson has retained ownership of the 117,000 sq ft building at One Eversholt Street which will allow the company to be involved in any future redevelopment of Euston Square. - (21-10-2003)

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Allen & Overy finally sign-up

Allen & Overy, the law firm, has formally signed the lease with Hammerson and the Corporation of London for its new 70,000 sq m (750,000 sq ft) headquarters at Bishops Square, Spitalfields, London E1 at £45 psf on a 25-year lease. It is thought that the firm also has a 21-month rent free period. Construction, of the Foster & Partners designed building, should start in early 2003. However everything is still subject to planning consent being granted by Tower Hamlets. The first announcement of the deal was made in March 2002 and at this time the rent free period was 18 months. - (22-09-2002)

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Skanska to build Moor House

Skanska has been appointed as the main contractor for the Moor House scheme, which is being funded as a limited partnership with Henderson Investors and Hammerson. The 44,658 sq m (480,710 sq ft) gross external scheme, is conceived as a curved vertical design of 19-storeys. The building will comprise about 26,400 sq m (284,000 sq ft) net of offices and 1,810 sq m (19,500 sq ft) of retail space. Completion is planned for early 2003. - (03-04-2002)

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Resolution funds London offices

UK based Resolution Property has launched three limited partnerships to finance more than £250m of property development in London. The financing will fund three office schemes in London boroughs of Hayes, Hammersmith, and Camden. The deal is backed by JER Partners and the Blackstone Group, US real estate investors. Deutsche Bank, and its property financing subsidiary Eurohypo, will provide debt of up to £165m to complete the deal. UK institutions invested a record £5.6bn in property in the first nine months of last year, and saw yields of around 7% achieved. - (18-05-2001)

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Demolition starting at 1 London Wall

Hammerson has started site preparations for demolition work to start at 1 London Wall, EC2. A start on the main construction could be made in summer 2001 with completion in late 2003. Last year a revised scheme was submitted with 13 upper floors, basement, ground and mezzanine levels. The total floorspace (gross external) is 28,980 sq m (311,940 sq ft). The scheme, by Foster & Partners, retains the Livery Hall (Plaisterers Hall). The original proposals for 1 London Wall go back over 13 years. - (15-05-2001)

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SDG may submit new application

Spitalfields Development Group (SDG), now owned by Hammerson, is according to Property Week thought to be considering submitting a new planning application for its office scheme at 1-10 Bishops Square, London E1. The new application could be submitted for a named occupier once SDG has a pre-let. SDG has been reluctant to submit a new application, as requested by London Borough of Tower Hamlets, as it considers the 'reserved matter' applications submitted as being within the scope of the original 1997 permission. Tower Hamlets had been awaiting legal opinion on the question of whether the reserved matter applications were acceptable or if a new planning application was required due to 'material changes'. - (08-05-2001)

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