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Landesbank Hessen-Thuringen

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Refurbishment in EC4

Aldgate scheme to re-start

Aldgate scheme to restart

Bow Bells House letting

St Botolph announcement

Contractor for Midtown scheme

Start date for Holborn scheme

Holborn scheme scheduled for 2007

Moving down south...

Aldgate East stops

The construction of Formation’s "Aldgate East”, at 1 Commercial Street and 101-110 Whitechapel High Street, London E1, has stopped. The building has reached concrete frame stage up to 11 storeys but its future is now being decided by administrators Ernst & Young. The development is planned as a 22 storey tower with about 8,640 sq m (93,000 sq ft) of office space, 217 residential units, and 1,068 sq m (11,500 sq ft) of retail space. The Formation Group, the sports talent manager, is understood to have raised a £93m loan for the land and building work from Heritable, part of Landesbanki, the failed Icelandic bank. As part of the deal Formation agreed to underwrite £11.6m of the loan, which now becomes a liability. Completion was planned for May 2010. - (18-12-2008)

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British Land announces deal with WestLB

British Land has announced a joint venture with Westdeutsche Landesbank (WestLB), the German bank, to dispose of a 50 per cent interest in four London office properties and receive £358m cash. The four properties are One and 10 Fleet Place, 100 New Bridge Street, and Watling House on Cannon Street. The remainder of the venture will be owned by WestLB, and Westdeutsche ImmobilienBank and Provinzial-Feuerversicherungsanstalt Der Rheinprovinz-Versicherung Der Sparkassen. John Weston-Smith, finance director at British Land, has been reported as saying that the deal is "more than enough" to pay for current developments in the City of London. - (03-10-2000)

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