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British Land and a consortium of Canary Wharf Group, Ballymore Properties and Manhattan Loft Corporation, have been shortlisted by British Waterways to develop the 334,448 sq m (3.6m sq ft) office scheme, hotel and apartments, on a 8.3ha (20-acre) Wood Wharf site in London Docklands, E14. A final decision on the developer is expected in January 2005 and British Waterways is likely to want to retain a share in the project. Atis Real Weatheralls is advising British Waterways. - (04-12-2004)
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London & Regional Properties has taken a controlling stake in a 0.9ha (2.2 acre) site on Victoria Embankment, London EC4, which includes the 37,160 sq m (400,000 sq ft) Morgan Place, 60 on Victoria Embankment, London EC4Y OJP, occupied by JP Morgan, the US investment bank, on a lease expiring in 2016, and the former City of London School for Boys. The site was sold by Sumitomo Life for about £135m. The deal has led to speculation that JP Morgan, which is about to merge with Chase Bank, will now seek to combine operations in one site in London. Chase, formerly Chase Manhattan, also recently acquired Flemings the UK investment bank, based at London Wall EC2, where leases expire in 2004 and 2006. The merger between Chase and JP Morgan will see around 2,000 staff laid off by the end of the year in London and New York and more in 2001. - (01-12-2000)
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MEPC, the property company, has sold Alban Gate, London Wall, London EC2 for around £157m to CIT (Capital and Income Trust). Alban Gate is a 34,373 sq m (370,000 sq ft) building largely occupied by Chase Manhattan, the US bank. MEPC is also to dispose of its Scottish subsidiary, Caledonian Land for a further £150m. The sales are part of MEPC's disposal programme, which will leave the company focussed on its business park developments in Basingstoke, Warrington, Cambridge, Abingdon and Leavesden. - (05-11-2000)
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