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Fringe scheme start

Pre-let at Regents Place

Major scheme starts on site

Refurbishment plan in EC1

City consent

Office plans revived

Mayfair scheme deal

Plans approved

Refurbished office let

Paddington application

City refurbishment consent

City site sale

City refurbishment green light

Victoria consent

Noho refurbishment start

New plans revealed

Contractor tipped

City refurbishment start

St James's refurbishment

Retrofit to start

City scheme letting

Refurbishment completed

Former HQ refurbishment

City refurbishment start

Phase 4 on site

London Offices – An Olympic Year?

Tower contractor

Midtown scheme start

Refurbishment in SW1

Midtown refurb

Tenders to be invited

Refurbishment starts

West End refurb underway

First tenant for Victoria scheme

West end consent

City refurbishment application

Liverpool Street consent

Consent for Noho scheme

Planning consent

Tower letting

Midtown consent

Refurbishment in EC2

City refurbishment start

West end start

West end consent

Consent in SW1

EC3 construction to start

City refurbishment consent

Southbank re-design

Revised Midtown scheme

New application in EC3

Mayfair application

City fringe application

City scheme underway

Midtown scheme underway

City refurbishment plan

Noho refurbishment

Phase 2 start date

Midtown scheme deal

Mayfair refubishment

City construction start

Contractor shortlist

Refurbishment plans

Refurbishment underway

More London letting

City scheme letting

Southbank consent

New scheme letting

City refurbishment

London Office Market – Special Report

New plans for West End site

Planning application submitted

Refurbishment about to start

City consent

Refurbishment underway

Demolition in EC3

Clerkenwell start

Tower deal in EC2

Soho construction start

Soho consent

City scheme letting

Refurbishment consent in Mayfair

Developer appointed

Knightsbridge redevelopment

City refurbishment planned

West end refurbishment

Architect change in EC3

Expansion at City scheme

West End HQ plan

Docks scheme could be revived

Consent in W1

Former HQ to be refurbished

Redevelopment may follow purchase

Riverside refurbishment

City tower pre-let

Paddington scheme consent

Refurbishment plan in EC2

Contractor appointed

City refurbishment start

Work starting on City fringe scheme

December lettings

December 2011 office lettings for central London reached 850,000 sq ft. The recent trend of deals migrating to the fringes, slowed this month with 72pc of transactions occuring in the core areas. This brought the yearly total to 8.7 million sq ft in lettings over 5,000 sq ft. - (27-01-2012)

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Victoria scheme letting

Group 4 Security (G4S) division, has signed to take 567 sq m (6,105 sq ft) of offices on the 8th floor at the recently-completed 'The Peak' office scheme at 331-333 Vauxhall Bridge Road, London, SW1. CB Richard Ellis was the letting agent. - (25-11-2011)

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Leadenhall pre-let

Aon, the risk management company, has confirmed its pre-let of 191,000 sq ft of new offices at 122 Leadenhall Street, EC3 - aka the 'Cheesegrater' building. Aon will take floors 4-13, comprising one third of the 610,000 sq ft skyscraper, upon completion of the 47-storey building in 2014. Initially set for completion in the third quarter of 2014, construction company Laing O'Rourke has now cut its building schedule by a few months to bring the completion date forwards to the second quarter. The Richard Rogers designed is being developed as part of a joint partnership between British Land and Oxford Properties. - (18-11-2011)

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Glasnost - Online Project, Contact & Image Management

HQ pre-let in NW1

Debenhams, the retailer, has agreed a pre-let of 13,471 sq m (145,000 sq ft) at British Land’s Regent's Place North East Quadrant scheme, London, NW1. The retailer will move on completion of the scheme in summer 2013. Debenhams will occupy the ground to fourth floors of the development at 10 Brock Street for a term of 25 years, with break options. - (28-10-2011)

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London Office Market – Special Report - Summary

CityOffices has produced a special report on the prospects for the London office market. The report, available free of charge to subscribers, looks at the number of new office requirements being launched into the market in 2011 compared with 2010 (with examples), and sets this in the context of future lease expiries in 2012 and 2013. The report also looks at the trends in the London office construction market and picks out the areas which are likely to see most growth in the next two years. Highlights include:

- 342 office requirements in first half of this year representing 9m sq ft of office demand
- Potential 7m sq ft of leases expiring in next two years
- 7.3m sq ft of Grade A central London office space currently under construction and available in Sep 2011
- Overall 17.2m sq ft of office space available for letting in the next three and a half years - (07-10-2011)

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Heron Tower deal

Bank Snoras, the foreign bank, has taken 1,205 sq m (12,969 sq ft) on the 20th floor of the newly-completed Heron Tower at 106-126 Bishopsgate, London, EC2. The rent is thought to be around £55 per sq ft. Mellersh & Harding advised. - (24-09-2011)

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Major letting for midtown scheme

Google, the US internet group, is taking 14,864 sq m (160,000 sq ft) of offices on the entire fourth, fifth, and ninth floors, and part of the third and sixth floors at the recently-completed Central St Giles scheme in London, WC2 on a 10-year lease. CB Richard Ellis acted for Google UK. - (27-05-2011)

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Towering Ambition

London’s next development cycle is now well underway with some 30 office schemes starting in the last six months, amounting to 510,962 sq m (5.5m sq ft) of new space coming on-stream.

Skyscrapers are topical again, and in this CityOffices newswire we look in detail at the unprecedented ‘clutch’ of new office towers (defined as 20+ storeys) nearing completion, underway and planned.

The last development cycle saw completion of the 37,160 sq m (398,000 sq ft), 34-storey Broadgate tower, EC2, now largely fully let; the 38,740 sq m (417,000 sq ft) 36-storey 125 Old Broad Street, EC2 has only 5,000 sq ft still available; the 55,091 sq m (593,000 sq ft), 36-storey Ropemaker Place, EC2, which is fully let; and the 25-storey, 30,750 sq m (331,000 sq ft) Drapers Gardens scheme in Throgmorton Avenue, EC2, which was pre-let.

All the above towers are in the City of London and interestingly there were no skyscrapers completed in Canary Wharf in the last cycle, or, less unusually, in the West End, Midtown or fringe. The almost-complete 59,921 sq m (645,000 sq ft), 46-storey Heron Tower in Bishopsgate, EC2, will end the tower building activity for the 2006-2011 property cycle.

The next cycle will see completion of the 75,901 sq m (817,000 sq ft), 80-storey, Shard, SE1 in 2012; the 63-storey, 111,482 sq m (1.2m sq ft) Pinnacle, EC2, in 2013; the 37-storey, 79,895 sq m (860,000 sq ft) 20 Fenchurch Street, EC3 (Walkie Talkie) and 47-storey, 67,075 sq m (722,000 sq ft) Leadenhall Building (Cheesegrater) both in 2014.

Schemes which are not yet under construction and may be completed in the next cycle are the 40-storey, 71,534 sq m (770,000 sq ft) 100 Bishopsgate, EC3, where a 2011 start is envisaged; the 22-storey, 27,870 sq m (300,000 sq ft), 60-70 St Mary Axe, EC3 (Can of Spam); and the 21-storey 93,440 sq m (1m sq ft) Aldgate Place, E1.

Elsewhere, a possible 20-storey plus scheme is being designed for Elizabeth House, and a 31-storey scheme for Kings Reach House, both in SE1. At Canary Wharf, the 2m sq ft redevelopment of Heron Quays is planned to include a 33-storey tower and there are still outstanding proposals for a 43-storey part office tower at Crossharbour; a 43-storey tower at Millharbour; and a 63-storey tower at the site formerly known as Columbus Tower in E14. In the West End, plans for the Victoria Interchange include a tower of up to 20-storeys.

The question is how successful are these new towers likely to be? The Gherkin (30 St Mary Axe) in EC3, has rapidly became a London icon, but 10-years ago, post 9/11, it was very slow to let, with over 50% still vacant on completion. Other high-rise buildings such as Centrepoint in the West End and 1 Canada Square at Canary Wharf were slow to let in the early days. Despite these examples developers seem keener than ever to build towers.

In total some 315,868 sq m (3.4m sq ft) of office space is under construction in five office towers, but still available, with a further 260,126 sq m (2.8m sq ft) in towers that could start in 2011 or 2012. These are big numbers, however, to put it in context, the City of London saw lettings of new unoccupied office space of 260,126 sq m (2.8m sq ft) in 2010, so a single year’s take-up could almost fill them. The five towers will be completed over a four-year period, during which they will currently face limited competition from newly completed, large, low-rise schemes in the City.





Experience from completed towers such as Broadgate Tower, 125 Old Broad Street and Ropemaker Place shows that the majority of lettings tend to be signed-up after the development has been completed. In general, only a small proportion of a tower’s floorspace is pre-let before completion. However, the experience of the recent letting of 17,744 sq m (191,000 sq ft) to Aon at the Leadenhall Building may indicate a more active pre-let market than previously for the new London towers.

An analysis of the occupiers of recently completed towers shows that the major share (51%) is taken-up by financial services with professional services (including law), in second place (23%). With the just two sectors accounting for 74% of deals done it is no wonder that these are the main targets for developers and their agents. .



An unusual ‘bulge’ of lease expiry and breaks due in the period 2013-15 has partly contributed to developers enthusiasm in starting new schemes in the last few months; and in-turn this has led to developers with refurbishment schemes to also leap into competitive starts to achieve completion before the towers come on-stream.

The future of the next generation of towers will depend on attitude of the 200 medium to large office occupiers in the City of London now actively looking for space, or with lease expiries due in the next four years. If occupiers show the same enthusiasm for high-rise working as those firms moving in the previous office cycle, then the new towers coming to the London skyline will succeed. it will just take a little time.

Andy King
Director
CityOffices.net

- (20-05-2011)

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City tower underway

Construction of Land Securities and Canary Wharf Group's “Walkie Talkie” building has finally got underway at 20 Fenchurch Street, EC3. Piling for the Rafael Viñoly designed building has begun with completion to ground floor planned for February 2012 and final completion anticipated in early 2014. When complete, the 37 storey building will provide 690,000 sq ft grade A office space in the City of London, topped by a public sky garden. Canary Wharf Contractors Limited, is the construction manager. - (19-01-2011)

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Christmas 2010: 22% More Christmas Cheer - Official!

London office deals in 2010 are now 22% up - in terms of space taken - on last Christmas. CityOffices research has identified just over 11.1m sq ft of office deals in central London this year. This is the first rise in deals-done since take-up peaked in 2007. Recent pre-lets to Bloomberg, BNP Paribas and JP Morgan, have helped drive a strong final quarter of this year.

The take-up of Grade A recently constructed or refurbished space also shows a slight increase by 10%. Deals signed on prime space in central London account for 4.2m sq ft in 2010, compared to 3.8m sq ft in 2009.

The City of London has dominated deals this year accounting for 5.1m sq ft, or 46%, of total take-up. The West End saw just 1.8m, or 16%, of deals signed, with the remainder of lettings mainly focused on Docklands and ‘fringe’ locations.

Financial services came back strongly in 2010 and accounted for over 44% of space let. The next best performing sectors are professional services, media, and insurance, which together took 25% of space let.



The late surge in deals this year, and the large amount of space expected to be signed up in early 2011, means that the London fit-out market will be strong in the first half of next year. After that a reduction in available prime office space, and increasing rents, may lead to occupiers pre-letting, or undertaking short-term refurbishment and re-stacking, to await the next ‘wave’ of office buildings due to arrive in 2013.

So it looks like a Merry Christmas for all

Our best wishes for a prosperous 2011

The CityOffices team. - (24-12-2010)

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London Offices – 2011, Looking Up

The central London property market seems to be at a turning point in terms of construction activity. It would seem that we are at the start of the next development cycle, with the prospect of major office projects starting in 2011.

CityOffices constantly reviews London’s office development projects. The latest ‘Skyline Monitor’ shows that a total of 11 schemes started on site during summer 2010. Schemes such as The Pinnacle in the City, 62 Buckingham Gate, SW1, and Park House in Oxford Street, W1, added a further 1.3m sq ft to office space under construction.

The current total office space under construction in London is 4.2m sq ft, comprising 2.4m in the City; 1.1m sq ft in the West End, 600,000 sq ft on the Southbank and 130,000 sq ft in Midtown.

The 4.2m under construction at present is low when compared to the 13m sq ft under construction two years ago, but does compares favourably with the mere five office schemes started this time last year.

This summer nearly 5.8m sq ft of offices were completed in schemes such as Minerva’s St Botolphs building, EC3; Derwent’s Angel Building, EC1; and Standard Life’s 95 Gresham Street, EC2. A number of lettings have been secured in these buildings and currently half of the 5.8m sq ft has been let, in line with the overall sharp reduction in prime office space available in central London.

CityOffices has identified 21 London office projects where demolition is either underway or the site has been cleared. It is anticipated that starts on around half of these before Christmas 2010, which could result in a further 1.5m sq ft of offices under construction by the New Year.



Looking forward to 2011, Cityoffices is currently tracking 110 office schemes in central London totaling over 22m sq ft, which have planning permission, and where the developer is thought to be considering a start in 2011. The short-list of developers lining up schemes to start next year includes British Land, Land Securities, Great Portland Estates, Helical Bar, and Exemplar.

The reason behind the increasing activity in central London is that Grade A office space availability is expected to hit a low point in late 2014 and rents are already rising to reflect shortages of prime space. Developers are keen to catch the next property ‘wave’ before it peaks and are trying to push ahead with developments. In reality not all these schemes will start but Cityoffices is tracking them all to identify the ‘winning’ development teams. - (19-11-2010)

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Top Architects 2000 - 2020

Over the last decade CityOffices.net has monitored office developments in central London. Our knowledge of past and future projects, and the development teams involved, allows us to provide a profile of the key market players.

This analysis of the Top Architects in London is based on office developments completed in the last 10 year and any under construction. The future ‘view’ on projects is based on our research into schemes with planning permission or at the pre planning stage.

The total amount of office space completed in central London over the last 10 years amounts to nearly 6.1m sq m (66m sq ft), with about 372,000 sq m (4m sq ft) currently under construction. This gives an average build rate of 585,280 sq m (6.3m sq ft) of new office space a year in central London.

Future potential office projects, where architects are appointed, amount to around 6.5m sq m (70m sq ft), certainly enough space for the next 10 years.


The Last Decade

The Top 10 Architects for office space built over the last 10 years have created about 3.3m sq m (36m sq ft) of new buildings. The clear leader is Foster + Partners with about 800,000 sq m (8.6m sq ft), or 24% market share, followed by KPF with 490,000 sq m (5.2m sq ft), or (14%).

The mid ranking is fairly close run between SOM, Sheppard Robson, Pelli Clarke Pelli and HOK, with an average of around 320,000 sq m (3.4m sq ft) of developments.

The last four architect places in the ranking account for around 180,000 sq m (2m sq ft) of projects each, and the position of these firms in future ranking could be threatened by rivals over the next few years.


Top Architects (London) 2000 - 2010 (Built Office Space)

1 Foster + Partners (24%)
2 Kohn Pedersen Fox (KPF) (14%)
3 Skidmore, Owings and Merrill (SOM) (11%)
4 Sheppard Robson (11%)
5 Pelli Clarke Pelli (10%)
6 HOK (8%)
7 Sidell Gibson (6%)
8 Rolfe Judd (6%)
9 EPR (5%)
10 Fletcher Priest (5%)



The Future!

The analysis of future office projects in central London shows the changing fortunes of firms. Although it must be said that until developments actually start on site architects can, and do, get changed!

On future office projects we are looking at nearly 3m sq m (30m sq ft) over the next property cycle (or two), so 2011 and beyond.

The ranking shows those firms set to lead design into the next decade.


Top 10 London Architects (London) - Future Office Buildings

1 Rogers Stirk Harbour + Partners (16%)
2 Pelli Clarke Pelli (14%)
3 Kohn Pedersen Fox (KPF) (14%)
4 Foster + Partners (13%)
5 Skidmore, Owings and Merrill (SOM) (11%)
6 MAKE Architects (9%)
7 Wilkinson Eyre (8%)
8 Foreign Office Architects (FOA) (5%)
9 Allies & Morrison (5%)
10 Sheppard Robson (5%)


Interestingly Rogers Stirk Harbour comes in at No1 in the ranking having been absent from the ‘past’ ranking. The firm’s 450,000 sq m (5m sq ft), or 16% of ‘future’ market share, is based around some major Docklands projects.

The next four places in the ranking (2-5) sees a reshuffle of firms from the ‘past’ ranking, reflecting the positions held over the last 10 years.

The lower end of the ‘future’ ranking is mostly newcomers to the Top 10. MAKE Architects, Wilkinson Eyre, Foreign Office Architects, and Allies & Morrison, account for 748,000 sq m (8m sq ft) of projects, as they look to increase their share of development activity in the London office market.

These ‘newcomers’ could now be set to overtake those firms established in the Top 10 of the past decade. However, that ‘overtaking’ relies on the developments progressing and the architect managing to stay on the project.

Andy King
CityOffices.net
20.10.10

Notes:
All office development details available at www.cityoffices.net
The rankings include all office schemes over 1,858 sq m (20,000 sq ft).
A Top 20 Architect (Built Office Space) list is available on request.

- (05-11-2010)

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West End letting

Linkedin, the US business social networking site, is taking the 687 sq m (7,400 sq ft) first floor of Derwent London's recently completed Charlotte Building in Gresse Street, London, W1. The rent agreed is thought to be about £511.29 pre sq m (£47.50 per sq ft). The lease is understood to expire in 2020, with a break option in 2015. - (02-09-2010)

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April figures show slowing

Total office take-up in central London in April fell back to 600,000 sq ft, from an average of over 1m sq ft in the first 3 months of the year, according to figures from Metroinfo. Lettings of new office space held up well at 220,000 sq ft. But a shortage of secondhand and west end deals in the run-up to the election had an impact. - (10-06-2010)

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Tower topped out

110 Bishopsgate a.k.a Heron Tower, the 46 storey, 230m high, building that will provide 40,836 sq m (439,560 sq ft) of grade A office space close to Liverpool Street Station, London, EC3 was topped out today. Heron International, will complete the tower in March 2011, when in addition to the office space the building will also provide apartments, restaurants and skybar. Heron chief executive Gerald Ronson said "I believe that Heron Tower has come to market at the right time.” - (12-04-2010)

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Cheesegrater revival

British Land, developer of 'The Cheesegrater', otherwise known as the Leadenhall Building at 122 Leadenhall Street, London, EC3, one of the tallest towers planned for the City of London before the recession, say it it is thinking about beginning construction of the 47-storey Richard Rogers designed tower. British Land said it was “thinking pretty seriously” about reviving the project, which will provide 82,721 sq m (890,409 sq ft) of office space 56,856 sq m (612,000 sq ft net) and 2,150 sq m (23,142 sq ft) of retail space. - (01-04-2010)

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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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Mayor backs Institute scheme

The London mayor has backed the £150m refurbishment of the 9,300 sq m (100,000 sq ft) former Commonwealth Institute in High Street Kensington, London, W8. The refurbishment will include space for the Design Museum and three new residential blocks by Chelsfield. The architects for the Parabola scheme are Rem Koolhaas and Reinier de Graaf of OMA. Further negotiations will be needed before work can start. - (19-06-2009)

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New Broadcasting House fit out

The New Broadcasting House project for the BBC in Portland Place, W1, is seeking workplace and interior design consultants for the 45,000 sq m (484,380 sq ft) net fit-out of the eight story Phase 2. The £110m Phase 1 involved the refurbishment of Broadcasting House of 16,600 sq m (178,882 sq ft), and the new build East Wing (Egton House), a five storey 6,800 sq m (73,195 sq ft). Phase 1 completed in early 2006. The £262m Phase 2 is an eight storey 54,000 sq m (581,256 sq ft) gross building due to be completed in mid 2009. The fit out project is due to be appointed in the New Year for a start in April 2009 and occupation is planned for September 2012. - (17-12-2008)

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JP Morgan pre-let deal

JP Morgan, the US investment bank, has announced a £237m deal to acquire a 999 year lease from Canary Wharf Group (CWG) on the Riverside South site at Canary Wharf, London, E14. The site has planning permission for 1.8m sq ft of office space in two towers and a ‘link’ building. Infrastructure work is underway but JP Morgan is still finalising the design of the buildings and will occupy in phases. The building will be the headquarters for all the banks European operations and could be completed in 2012 or 2013. CWG will act as development and construction manager. CWG will complete the design, planning, piling and raft construction and the bank will, subject to market conditions, decide when to instruct CWG to proceed with final construction. If construction of the building is postponed, or put off altogether, CWG will be paid for completed work and also retain £76m representing a portion of developers profits related to the development. - (18-11-2008)

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City scheme close to completion

Lancaster Holdings, part of Warner Estates, is well underway with the refurbishment of the 5,300 sq m (57,000 sq ft) Cable House office building at 60 New Broad Street, London, EC2. Completion is expected in December 2008 and Montagu Evans is the letting agent. - (14-11-2008)

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City scheme consent

LMS (City Road), part of Derwent London, has gained consent on appeal for the redevelopment of its City Road Estate in London, EC1, including 80-100 City Road. The proposal includes approximately 10,219 sq m (110,000 sq ft) of offices, 930 sq m (10,000 sq ft) of retail and 250 residential units within a 45-storey tower. Squire and Partners is the architect. - (14-11-2008)

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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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Middlesex Hospital plans

Project Abbey, the consortium of investors led by Christian Candy, founder of Candy & Candy, is submitting a planning application for the redevelopment of the Middlesex Hospital site on Mortimer Street, London, W1. The 1.3ha (3 acre) NoHo site will be redeveloped into 273 apartments and a 32,980 sq m (355,000 sq ft) nine storey office building. - (14-02-2007)

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LandSecs new plans

Land Securities has revealed new plans for its (185,000 sq m) 2m sq ft office development on a site on Victoria Street, to the front of Victoria Station, London, SW1. The revised plans are now for two twin 50 storey office towers. The original plans for three skyscrapers of between 25 and 42 storeys were submitted last year but the application was withdrawn. Westminister City Council is looking for one tower of 12 storeys but powers under the Greater London Authority Bill may allow the Mayor of London to overrule the council if the scheme is refused. The scheme therefore seems likely to be called in. - (01-02-2007)

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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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Swiss Re talks to IVG Asticus

Swiss Re is said to be in exclusive talks with IVG Asticus, the German property group, to sell 30 St Mary Axe, 'the Gerkin", in London, EC3. The reinsurer is thought to have had over 50 expressions of interest in the buildng and the present deal could be finalised in early 2007. Offers are believed to have almost reached £600m. - (05-12-2006)

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St.James's application

Britel Fund Trustees, the investor and part of Postel Properties and Hermes, has submitted a planning application for the redevelopment of 7 & 8 St James's Square and 7 Apple Tree Yard, London, SW1. The scheme envisages 10,511 sq m gross (113,140 sq ft) of offices on basement, ground and five upper floors mainly at 8 St James's Square and 7 Apple Tree Yard, plus four apartments. Net floorspace will be about 8,500 sq m (90,000 sq ft). CB Richard Ellis is advising Britel. - (24-08-2006)

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Smithfield plans called in

Thornfield Developments has had its plans to redevelop the west wing (General Market building) of the former Smithfield market at 43 Farringdon Street, London, EC1, called in and could face a public inquiry. The plans are seen as a possible conflict with “national policies on important matters”. The £150m plans are for a seven storey 39,204 sq m (422,000 sq ft) redevelopment. Other buildings in Smithfield are no longer part of the plans, which have been scaled down following the listing of the Red House cold store earlier in the year. - (06-07-2006)

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Hedge funds boost take up

Take up by financial services groups, including hedge funds and banks, has risen from 21% of total take up in 2004 to 37% over the last year according to research by Cushman & Wakefield. The research has also identified the impact of the Government's Lyons Review which has effectively put a moratorium on public sector deals. In the West End the public sector share of take up dropped from 32% in 2004 to just 9% over the last year. In contrast demand from hedge funds has helped push the financial services sector share of take up in the West End up from 17% to 32% over the same period. David Hume at Cushman & Wakefield has said that the figures show an "extremely healthy" market. - (06-07-2006)

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Start on Old Jewry

Standard Life Assurance has started work on the redevelopment of 1 Old Jewry, London EC2. The £20m scheme and will complete during the final quarter of 2007. The nine-storey 7,154 sq m (77,000 sq ft) scheme includes 5,964 sq m (64,200 sq ft) of offices, a wine bar and 684 sq m (7,360 sq ft) of retail. - (04-07-2006)

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Offices for Brook Street

Gracemark Investments and Oppenheim Property Fund, the property investors have submitted plans for the redevelopment of the vacant £11m Melbourne House, 8-12 Brook Street, London, W1. The scheme envisages a 1,860 sq m (20,000 sq ft) refurbishment to include 1,626 sq m (17,500 sq ft) of offices, plus two floors of retail. The refurbishment has been designed by DP9. - (21-11-2005)

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Consent for Drapers Gardens

The Royal Bank of Scotland has at last received planning consent for the redevelopment of its Drapers Gardens site bounded by Copthall Avenue and Throgmorton Avenue, London, EC2. The existing building is 32,996 sq m (355,168 sq ft) and the current proposals, submitted in April 2004, are for a stepped building of between five and 16-storeys, providing 37,452 sq m (403,733 sq ft) gross floorspace. The office element of the scheme will be on 13 floors and amount to 30,761 sq m (331,111 sq ft) gross external. There will be 131 sq m (1,410 sq ft) of retail space on the ground floor. The architect is Foggo Associates and Drivers Jonas is the development advisors. - (21-11-2005)

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Riverside South S106 agreed

The Riverside South development at Canary Wharf, London E14, has been granted planning permission by London Borough of Tower Hamlets. The 278,700 sq m (3m sq ft) scheme by Canary Wharf Group comprises twin office towers of 28 and 34-storeys. The permission is subject to a £20m Section 106 agreement. Knight Frank and CBRE are the letting agents. - (17-07-2005)

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Centre Point up for sale

Centre Point, the Richard Seifert designed skyscraper, on Tottenham Court Road, London, W1, has been put on the market by its owners, a consortium of Deutsche Bank, Europa Capital Partners and Apollo Real Estate Advisors, for about £80m. The 32-storey 16,257 sq m (175,000 sq ft) tower, now listed, was built in 1964 and became a symbol of the worst excesses of the property development industry at the time. - (08-07-2005)

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Work starts on 71 Lombard Street.

Work has now gotten underway on the redevelopment of 71 Lombard Street, London EC3. The building is being renovated by IVG Asticus, which is acting as construction manager and appointed sub contractors for the building work, and should be ready to occupy during early 2007. When completed, the building will provide approximately 12,000 sq m (129,168 sq ft) of offices on floors 1-8 and 3,716 sq m (40,000 sq ft) of retail on the ground and mezzanine floors as well in the basement. The letting agents for the offices are DTZ and Savills and DTZ and Cushman are the agents for the retail. - (08-03-2005)

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Spring start for Winchmore House

British Steel Pension Fund is planning a refurbishment of the 7,897 sq m (85,000 sq ft) Winchmore House on Fetter Lane in EC4. The fund has vacant possession of the building and the refurbishment could start in spring 2005 for completion in early 2006. - (23-02-2005)

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Elephant & Castle project hots up

St Modwen, the developer, is said to be looking to bid for the redevelopment of the Elephant & Castle site in south London. The London Borough of Southwark is about to issue invitations to tender for the 71ha (170-acre) site. The scheme includes new office buildings, shopping centre, leisure uses and residential. Other groups thought to be preparing bids include Blackfriars Investments, with Royal London Asset Management, Berkeley Group, Hines, the US developer, and possibly Multiplex. The previous attempt by LB Southwark to find a developer partner fell apart in 2002. - (23-02-2005)

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Huge office scheme for SE1

Capital & Counties has submitted an application for the redevelopment of Kings Reach tower, Stamford Street, London, SE1. The scheme adds an additional four floors to the 30-storey tower, bringing it to 34-storeys and increases the 25,500 sq m (275,000 sq ft) building to 37,200 sq m (400,000 sq ft). - (15-02-2005)

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35 Basinghall Street demolition start

A revised planning application has been submitted for the CLOUT (Pillar) office scheme at 35 Basinghall Street and 16 Coleman Street, London, EC2. The latest plans are for 25,328 sq m (272,630 sq ft) of offices and a 140 sq m (1,507 sq ft) shop unit. The new scheme includes the redevelopment of MAB's 16 Coleman Street building, which adjoins the site of 35 Basinghall Street. Demolition of 35 Basinghall Street building is currently underway. - (13-11-2004)

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Happiness is a completed office

Benchmark started the redevelopment of its Soho site at 15-18 Golden Square, London W1, during autumn 2002 and has just completed. Benchmark awarded the main contract to Wates for the construction of a 5,295 sq m (57,000 sq ft) 6 storey building (now called ‘Happiness’), designed by TP Bennett. The scheme includes retail and restaurant on the ground floor with 5 floors of offices totaling 4,087 sq m (44,000 sq ft) above. The letting agents are DE & J Levy and Dunlop Heywood Lorenz. - (20-10-2004)

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Gerkin favourite to win prize

The Swiss Re building at 30 St Mary Axe, London, EC3, otherwise known as the Gerkin, has won 55 per cent of the public votes in a BBC poll on what should win the RIBA Sterling Prize for architecture. The Imperial War Museum North in Manchester was in second place. The winner will be announced on October 16. - (08-10-2004)

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British Land clears the way

British Land has used H Smith Demolition to clear a major site for a 11,148 sq m (120,000 sq ft) office development at the corner of Old Seacoal Lane and Old Fleet Lane, just off Farringdon Road in London. At this time British Land is awaiting the right market conditions before starting development, but this is not expected to be long in an improving market. - (20-09-2004)

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Kings Cross Central plans unveiled

After a gap of 15-year new outline plans have been announced for the 28ha (67-acre) Kings Cross site in London, NW1. The Kings Cross Central development in totola will provide 743,218 sq m (8m sq ft) of mixed-use space to be developed by Argent St George with Exel and London & Continental Railways, the landowners. The main site is bounded by the Euston Road, York Way, St Pancras Station and Kings Cross Station. The 1980’s proposals by Rosehaugh and Stanhope included two Sir Norman Foster skyscrapers as part of a £3.5bn redevelopment. The new plans are for a £2bn scheme and involve the renovation of 20 historic buildings and providing 483,091 sq m (5.2m sq ft) of office space, 47,194 sq m (508,000 sq ft) of hotel space, 45,893 sq m (494,000 sq ft) of retail and leisure uses, 8,454 sq m (91,000 sq ft) of cenemas, and 75,715 sq m (815,000 sq ft) of community and education and cultural space, to include an art gallery and museum. At lease 1,800 homes will also be built. Construction work on the major elements of the scheme cannot start until the Channel Tunnel rail Link is completed in 2007. - (05-06-2004)

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Shell wins on appeal

Shell International’s plans for the redevelopment of part of the Shell Centre site in London, SE1 have been given planning consent on appeal. The scheme in York Road is to be developed in partnership with Lend Lease and is known as Belvedere Court. The development include about 32,000 sq m (344,450 sq ft) of offices, 7,300 sq m (78,575 sq ft) of retail within the existing Shell building, 4,000 sq m (43,056 sq ft) of restaurants and cafes, 11,200 sq m (120,556 sq ft) of sports facilities and 4,700 sq m (50,590 sq ft) of conference space. The scheme has been designed by Arup Associates - (20-04-2004)

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Songbird calls tune at Canary Wharf

Songbird Acquisition, the new name for the Morgan Stanley led consortium, has had it’s latest bid of 295p endorsed by the the independent directors at Caanry Wharf. CWG, the rival Branscan bid, backed by Paul Reichman, is thought to be still due to put its 275p offer to shareholders. The bid battle for Canary Wharf has now been going on for 10 months and the two groups have until the end of the week to send their offers to shareholders. - (20-04-2004)

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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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L&G appoints on Bucklersbury House

Legal & General has appointed French architect Jean Nouvel to design the redevelopment of Bucklersbury House in London, EC4. Jean Nouvel has previously been involved in early concept designs at Canary Wharf and will work in collaboration with Foster & Partners. Stanhope has been appointed as the development manager. The 1.3ha (3-acre) site is bounded by Cannon Street, Queen Victoria Street and Walbrook and includes Bucklersbury House, Temple Court and 9, Queen Victoria Street. The new development could provide a 139,353 sq m (1.5m sq ft) mixed-use office and retail scheme. - (30-03-2004)

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Morgan Stanley bids higher

The Morgan Stanley led ‘Silvester’ consortium has teamed up with British Land to increase the offer for Canary Wharf to £1.7bn. The consortium has raised its previous bid by £100m to 292p a share, above the rival Branscan offer of 275p. British Land will contribute £125m and take a 14.5 per cent stake in the Silvestor consortium. - (30-03-2004)

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Regent Street proposals submitted

The Crown Estate has submitted proposals to Westminster City Council for it’s £500m mixed-use scheme for the redevelopment of the southern part of Regent Street, London, W1. The scheme, named ‘The Quadrant’, is for 90,000 sq m (968,760 sq ft) of space and includes a five-star hotel, apartments, and about 60,386 sq m (650,000 sq ft) of office space. The scheme includes Regent Street, Brewer Street, Glasshouse Street and Aire Street, and has been designed by architect Allies & Morrison with CB Richard Ellis advising on the development. - (18-02-2004)

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British Land submits skyscraper plans

British Land has revealed the plans for a 48-storey glass tower at the site of 122 Leadenhall Street, London, EC3. The Richard Rogers Partnership is the architect of the Leadenhall Building which at 224m (737 ft) tall would be the highest in the City of London. The design incorporates a distinctive triangular shape and will provide 53,605 sq m (577,000 sq ft) of offices, with the lower floors of the building providing restaurants and bars along with 1,672 sq m (18,000 sq ft) of retail space. British Land is hopeful that the Leadenhall Building will be completed in 2006, with a late 2004 start following approval of the planning application made this week. English Heritage is thought to be more positive about this skyscraper as it does not block views of St Pauls. - (15-02-2004)

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Unilever submits new plans

Unilever has submitted a new planning application for the redevelopment of it’s 35,303 sq m (380,000 sq ft) headquarters building Unilever House, Victoria Embankment, London EC4. The scheme is to be developed by Stanhope and has been designed by KPF Architects. The façade of the Grade II listed building is to be retained and rear sections rebuilt. If planning and listed building consents are granted the scheme could start in summer 2004 with completion in mid-2006. Unilever is to accommodate staff at 60, Victoria Embankment, London, W1 before re-occupying the Unilever House. - (31-01-2004)

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Canary Wharf Group set deadline for offers

Canary Wharf Group has set a deadline of 13th February for Branscon, the Canadian property company, and Paul Reichman to make fully funded offers for the Docklands complex. The deadline is expected to clarify the position of the rival bidders to shareholders ahead of an extrodinary meeting on 23rd February, which is to vote on a recommended £1.56bn offer from a Morgan Stanley-led consortium. Recently Canary Wharf secured a £1.1bn investment deal with Royal Bank of Scotland on 5 Canada Square, let to CSFB, and 25 Canada Square, let to Citigroup. - (12-01-2004)

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LandSec's reveals New Street Square

The City of London Real Property Co Ltd, otherwise Land Securities, has submitted revised plans for the redevelopment of the New Street Square site (off Fetter Lane) in the City of London, EC4. The new plans are for 98,816 sq m (1.06m sq ft) of space to replace the existing 54,479 sq m (586,411 sq ft) of offices. The scheme, designed by Bennetts Associates, envisages five buildings, of between three and 18-storeys, providing 81,941 sq m (882,013 sq ft) of offices space and 3,082 sq m (33,175 sq ft) of retail space. - (22-11-2003)

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Delancey change to Bream's Buildings

A planning application has been submitted for revised details to the redevelopment of Bream’s Buildings and Rolls Buildings (Rolls House and Arnold House) in Fetter Lane, London, EC4, and the part retention of the façade of 8 Bream’s Buildings. The application has been made by Delancey Arnold & Co, otherwise Delancey Estates, and the architect is Woods Bagot. The existing buildings provide about 24,481 sq m (263,513 sq ft) of offices and the new proposals are for an eight-storey building providing 34,968 sq m (376,395 sq ft) of offices and 491 sq m (5,285 sq ft) of retail space. The revised proposals include changes to the massing and the appearance of the scheme. - (22-11-2003)

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'Gherkin' shortlisted for award

The Swiss Re building, otherwise known as the ‘Gherkin’, in the City of London, has been shortlisted for the first London Planning Awards. The awards, run jointly by London mayor Ken Livingstone, London First, and the Royal Town Planning Institute, aim to highlight outstanding planning achievements in London. The Swiss Re building was designed by Foster & Partners and submitted for the award by Montagu Evans. Paddington Waterside Partnership is on the shortlist for the best community or partnership initiative category. - (31-10-2003)

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Skanska wins Palestra contract

Blackfriars Investments and Royal London Asset Management have signed a £67.5m construction contract with Skanska UK to build the Palestra office scheme on Blackfriars Road, London SE1. The project has had several previous start dates but the cleared site could now be on-site this year, or early 2004. The revised completion date is now mid-2006. - (30-09-2003)

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M&S unveils Baker Street design

Marks & Spencer, the retailer, has submitted detailed plans for an eight-storey 71,070 sq m (765,000 sq ft) on the 0.8ha (2-acre) site of the firm’s present headquarters at Michael House in Baker Street, London W1. The building, designed by Kohn Pedersen Fox (KPF), will include 60,386 sq m (650,000 sq ft) of offices, 4,366 sq m (47,000 sq ft) of shops and a health club and 32 residential units. Marks & Spencer will seek a developer to undertake the scheme, which could be carried out as two building phases. Marks & Spencer is anticipating a planning consent in spring 2004 and the building will cost around £125m. Jones Lang LaSalle is the development advisor. - (06-09-2003)

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Parabola submits Kings Cross scheme

Parabola Land has submitted a planning application to London Borough of Islington for an eight-storey 27,870 sq m (300,000 sq ft) office scheme overlooking the Regent’s Canal in Kings Cross, London N1. The scheme will also include an arts centre and gallery along with a café and restaurant. The development, designed by architect Dixon Jones, is to be known as Kings Place, and is on a 0.6ha (1.3-acre) site bounded by York Way, the Regent’s Canal and Battlesbridge Basin. - (06-09-2003)

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US rivals may team up for Canary bid

Goldman Sachs and Morgan Stanley, the rival US investment banks, are said to be making a joint attempt to take control of the Canary Wharf development. The Whitehall Fund, part of Goldman Sachs and Morgan Stanley Real Estate fund are bidding against Brascan, the Canadian property group. Last week canary Wharf received sealed offers for the company. Property analysts are expecting offers of between 260p to 300p a share, putting a value on the company of around £1.5 billion. - (31-08-2003)

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Holborn Viaduct plans submitted

A planning application has been submitted for the redevelopment of 40 Holborn Viaduct and 2 Charterhouse Street, London EC1 by the developer Castlemore Holborn Partnership. The architect for the development is Rolfe Judd and the scheme is for a new office building of 21,658 sq m (233,126 sq ft) with 130 sq m (1,399 sq ft) of retail units on the ground floor. - (27-02-2003)

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5 Cheapside plans submitted

A planning application has just been submitted for the refurbishment of 5 Cheapside, London EC4. The architect for the scheme is Rolfe Judd and the developer is St Martins Property Corporation. 5 Cheapside is an unusual octagonal building and the office floorspace will be increased from 3,479 sq m (37,447 sq ft) to 3,786 sq m (40,752 sq ft). The 5,248 sq m (56,489 sq ft) building will have retail units of 230 sq m (2,475 sq ft) on the ground floor. - (27-02-2003)

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Canary designs on new towers

Canary Wharf is thought to be about to unveil its scheme for two office towers providing 4m sq ft on a site at Riverside South and North Quay. The towers have been designed by the Richard Rogers Partnership and Cesar Pelli and will be part of an office, residential and leisure complex. A planning application will be submitted for the scheme but development is unlikely to take place until tenants have been identified. - (10-02-2003)

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Caxton Hall office scheme

Caxton Hall, the Grade II listed former Westminster registry office, in London SW1, is to be redeveloped as office and apartments. The building on the Broadway and Christchurch Gardens conservation area has been vacant for about 20-years. Amberswift Limited and Stanhope plc have submitted a planning application to Westminster City Council, for a scheme designed by Foggo Associates, to restore the building and create 13 flats and also build a nine-storey 5,000 sq m (53,820 sq ft) office building at the rear of the site. - (10-02-2003)

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Lambeth rejects Arup scheme

This week the London Borough of Lambeth refused to grant planning permission to the Belvedere Court scheme in York Road, London SE1. The decision was made against the officer recommendation. Belvedere Court is planned by Lend Lease and designed by Arup Associates. The refusal was based on design, overlooking of the listed County Hall, impact of retail on local shops, and loss of public open space. - (20-12-2002)

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BBC £252m "live news centre"

The BBC is to spend £252m creating a “live news centre” at Broadcasting House, Portland Place, London W1. The development will start shortly with the demolition of Egton House, an adjoining building, starting in January 2003. Bovis Lend Lease has been appointed as the construction manager. The 9 to 13 storey complex has been designed by Sir Richard McCormac and will include 140 studios, a central atrium, and a huge newsroom. All the BBC’s radio operations and television news will be brought together in the building. The first stage of the project is the refurbishment and extension of Broadcasting House, a 1932 Grade II* listed building, and the demolition of four adjoining properties to create two new buildings of about 74,321 sq m (800,000 sq ft). The scheme will be completed by 2008. - (16-12-2002)

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Spitalfields gets final approval

The redevelopment of Spitalfields moved another step closer this week with the Mayor of London granting planning permission for the scheme. The Foster & Partners scheme has 70,000 sq m (753,480 sq ft) of offices and 4,000 sq m (43,056 sq ft) of retail space. The scheme will require the demolition of half of the 80-year old covered market. The London Borough of Tower Hamlets approved the Spitalfields Development Group's £500m scheme in October. - (02-11-2002)

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King Cross 'vision' appears

The latest plans for Kings Cross have been unveiled by Argent, and partners London & Continental Railways and St George, pending an outline planning application being submitted for the 29ha (72-acre) site. The last major plans for Kings Cross were by Rosehaugh Stanhope in the late 1980's when over 6m sq ft of office space was proposed. In the mixed-use 'vision' office development is contained in blocks 4 and 5 as the 'Southern Hub' and also in Blocks 7 and 8 to the rear of the site. The office blocks range between 8-25 storeys, with the potential to go higher. The remainder of the scheme includes retail, residential and leisure uses and the total floorspace of all uses is between 7m to 8.6m sq ft. Jones Lang LaSalle is advising on the development, which will not be able to start before 2007. - (06-10-2002)

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Cannon Bridge sold for £167m

The headquarters of the London International Financial Futures & Options Exchange (LIFFE) has been sold in a £167m deal, a yield of about 7.9%. The 250-year lease on the 26,477 sq m (285,000 sq ft) building at Dowgate Hill, off Cannon Street EC4, has been acquired by Fordgate, a secretive private property group run by the Gertner brothers. The deal, one off the biggest this year, shows a profit for Pillar Properties, which paid Railtrack and General Electric £64m for the building in 1995. Pillar sold a 75% stake in the building to the Teachers Insurance and Annuity Association, the US pension fund, in 2000 for about £140m. Liffe occupies about half of the Canon Bridge building and has a 'rolling' tenant break. The rest of the space is occupied by Standard Chartered Bank and Winterflood Securities. In July 78 Cannon Street, adjoining Cannon Bridge, was sold by Marylebone Warwick Balfour (MWB) to Hines, the US property developer, for £53.3m. In the 1980's developer Speyhawk was considering linking the two buildings and there must still be potential for longer term redevelopment. Pillar and Teachers were advised by FPD Savills. - (06-10-2002)

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Millbank Tower on the market

Millbank Tower, the Grade II listed skyscraper owned by Tishman Speyer Properties, is thought to be on the market for around £125m. The US-owned private property group owns several landmark buildings including the Chrysler Building and the Rockerfeller Centre in New York, and the MesseTurm in Frankfurt, Germany. Jones Lang LaSalle is acting on the sale of Millbank Tower. - (06-10-2002)

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British Land's new skyscraper

British Land has unveiled its plans for a skyscraper at 122 Leadenhall Street. The 48-storey tower will provide about 93,000 sq m (1,001,000 sq ft) of space and has been designed by the Richard Rogers Partnership. The initial designs envisage a tapering external frame structure, possibly a 'shard of steel', on 'legs' above a new public park. It is said that the building would be the tallest in the City of London. - (22-09-2002)

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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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Selfridges scale back plans

Selfridges, the department stores group, is to scale down the £300m plans by Foster & Partners for its Oxford Street store. After nine months discussions with Westminster City Council planners Selfridges is thought to be about to scale back the 12-storey office tower, although the 9,290 sq m (100,000 sq ft) of retail space, a spa, car park and hotel, will remain. It is thought that the office tower will be reduced from 60m to 41m in the redesign. - (22-09-2002)

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WTC4 turns to residential

City & Provincial has revised its plans for its World Trade Centre scheme and is now intending that Building 4 (WTC4), of 31,240 sq m (336,267 sq ft) will be a 24-storey residential block named Discovery Dock. The compnay has cited a 'slow' commercial office market in London and planning delays as the reasons for the change in strategy. The scheme has an exisiting planning permission for residential that can be implemented. - (30-03-2002)

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Bishops Square plans revised

The plans for Bishops Square at Spitalfields market, by the Spitalfields Development Group, have been re-worked following public consultation. The new plans, by Foster and Partners, take into account the needs of law firm Allen & Overy, which has pre-let the building. The scheme includes 69,675 sq m (749,981 sq ft) of offices and 3,995 sq m (43,002 sq ft) of retail space. The revised plans replace the 'ski-slope' design with a more standard 'stepped' building. - (18-03-2002)

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Grands Union Building decision close

The revised planning application for the 89,087 sq m (958,954 sq ft) office and retail 'Grand Union Building' development at Paddington, designed by Richard Rogers Partnership, is due to go to Westminster City Council planning committee on 14th March. It is thought that members of the Chelsfield led consortium will 'allez' from MIPIM to be back in time for the meeting. - (04-03-2002)

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Royex House plans submitted

Scottish Widows has submitted a planning application for the redevelopment of Royex House in Aldermanbury Square, London EC2. Royex House is a 'classic' slab 1960's building in steel and blue glass designed by Richard Seifert. The proposed 17-storey replacement tower has been designed by Eric Parry architects. Subject to planning permission the development could be on-site in late 2003 for completion in late 2005 or early 2006. - (04-03-2002)

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Mercer's scheme approved

The Mercers Company and Scottish Provident Institution have received planning approval for the redevelopment of a site on the corner of Cheapside and Ironmongers Lane, London EC2. The site incorporates Becket House at 81-90 Cheapside, 36-37 Old Jewry, the Mercers Hall, Daunsey House, 4, 4a, 4b and 5 Frederick Place, and 4 Ironmongers Lane. Siddell Gibson has designed a new 10-strorey building of 20,114 sq m (216,507 sq ft) gross, with 9,407 sq m (101,256 sq ft) net of offices and 1,836 sq m (19,762 sq ft) of retail space. - (03-03-2002)

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Drapers Gardens plans submitted

The Royal Bank of Scotland, advised by Montagu Evans, has formerly applied for consent to redevelop its 32,996 sq m (354,478 sq ft) tower offices at Drapers Gardens, 12 Throgmorton Avenue, London EC2. The new 17-storey office building has been designed by Foggo Associates (020 7490 4040) and will provide 30,780 sq m (331,315 sq ft) net of office accommodation along with 319 sq m (3,433 sq ft) of retail space. - (16-02-2002)

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Richard Rogers' twin towers

Canary Wharf Group has confirmed that the Richard Rogers Partnership is working on building designs for a riverside site to the south of Westferry Circus, London E14, and adjoining the Cascades residential scheme. The plans are said to be at an early stage and no details are being made available. However the scheme is thought to include two towers, each of around 37-storeys and 44-storey and could provide a further 148,643 sq m (1.6m sq ft) of office space or a mix of uses. - (16-02-2002)

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Convoy Wharf master plan

News International’s plans for the redevelopment of the vacant Convoy Wharf site in Deptford, London, SE8 are progressing. News International has now commissioned architect Richard Rogers Partnership to draw up the plans for the 16ha (38-acre) site, which will have a mix of uses including office space. Taylor Woodrow is News International’s development partner. The site has been used in the past as a printing works but it is currently used for light industrial activities. The site is classified as a 'protected wharf' and may face planning hurdles with the Mayor's office. - (16-02-2002)

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Paternoster up for sale

Mitsubishi Estate Company is said to be selling its Paternoster Square office development in London EC4. The 46,451 sq m (500,000 sq ft) scheme is under construction and due for completion in March 2003. Mitsubishi is believed to have invested over £220m in the scheme and borrowed a further £200m to build it. All the buildings at Paternoster are now pre-let and the rent roll is put at abut £35m, with average rent said to be around £592 per sq m (£55 per sq ft). It is thought that Mitsubishi may retain one of the buildings. Healey & Baker has been appointed to sell the completed development. - (10-02-2002)

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British Land plans EC3 tower

British Land has submitted a planning application for the redevelopment of 51 Lime Street, London EC3, otherwise known as the 58 Building, acquired from Lloyd's of London. The new scheme, which also fronts Fenchurch Avenue and Billiter Street, is for 54,521 sq m (586,864 sq ft) of offices and 522 sq m (5,618 sq ft) of retail in a part six-storey, part 25-storey building, designed by Foster & Partners. - (25-01-2002)

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Juxon House designs unveiled

Standard Life Investments has unveiled the final designs for the redeveloped Juxon House, part of the Paternoster Square scheme in London EC4. The seven-storey building has been designed by Sidell Gibson Partnership and will provide about 11,891 sq m (128,000 sq ft) of office space with 1,858 sq m (20,000 sq ft) of retail space on the ground floor. The overall masterplan for the Paternoster Square area is by Whitfield Partners. The building, which has a curved classical façade in contrast to the previous 1960's 'box' design, will be completed in summer 2003. - (13-01-2002)

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Selfridges unveils plans

The plans for the £300m development at the rear of Selfridges store in Oxford Street have been unveiled. The designs by Foster & Partners include about 27,870 sq m (300,000 sq ft) of offices, an additional 10,219 sq m (110,000 sq ft) of retail space, and a 12-storey five star hotel. If planning permission is granted the scheme will start in mid-2003 and will not be completed until 2007. The planning application was submitted to Westminster City Council earlier this week. - (13-12-2001)

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More tall stories needed

Yet another debate on tall buildings got going this week, this time in a UK-wide context. The urban affairs sub-committee of the Commons select committee on transport, local government and the regions, is to hold an inquiry into tall buildings. The committee will examine the role and location of tall buildings and consider if there should be a government policy on them. The inquiry will, in part, consider the role of tall buildings in providing office space for global companies. The committee will also look at impact on views and consider whether buildings should be located in clusters and the if any restrictions should be placed on location. If anyone is not too busy with the Heron Inquiry or the GLA tall buildings policy review then the deadline for inquiry submissions is 17 December. - (01-12-2001)

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Revisions to Churchill Place

The elements of the Canary Wharf masterplan for the Churchill Place area, also known as the 'BP 1-3' sites, which was previously intended as a group of four buildings, is understood to be under revision. The redesign will see some increases in planned floorspace. The new masterplan would include the 92,902 sq m (1 million sq ft) tower on BP1, possibly nearing a pre-let to Barclays Bank, BP2 at around 32,515 sq m (350,000 sq ft), and BP3/4 at about 69,676 sq m (750,000 sq ft). - (19-11-2001)

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New Kings Cross plans revealed

P&O Property Holdings Ltd has submitted plans for the refurbishment and redevelopment of four major buildings at Kings Cross,London N1. Block A (3,000 sq m)is known as the Lighthouse and plan retains 1870s office building with construction of 3 storey office building with retail. Block B (3,000 sq m) retains the majority of building, with some new build elements. Block C (4,000 sq m), comprises mainly refurbishment and re-building with the construction of new four storey headquarter offices, and five storey hotel to SW of site. Remaining block D retains listed facades with conversion of some buildings to create residential units. Architect is Rolfe Judd. - (14-11-2001)

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LandSecs submits plans for Southbank

Land Securities has submitted a planning application for the redevelopment of St Christopher's House and Tabard House on the Southbank in SE1. The new scheme by Allies & Morrison includes about 69,676 sq m (750,000 sq ft) of office space with 7,989 sq m (86,000 sq ft) of retail and leisure space. If planning permission is granted work on the scheme could start in 2003 and be completed in 2006. Jones Lang LaSalle is the development advisor and letting agent on the scheme. - (31-10-2001)

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Riverside back on the market

The Financial Times, owned by Pearson, will not now occupy office space at The Riverside Building on Southwark Bridge SE1. The 8,469 sq m (91,160 sq ft) Riverside Building is being developed by Chelsfield and is now back on the market through Healey & Baker. The building should be completed in May 2002. Last year Stephen Hill, the FT Group chief executive, was keen to build an "FT Campus" in Southwark but the plans now seemed to have changed. - (26-10-2001)

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Fidelity on-site at South Quay

Fidelity Investment Management, through its property arm Pembroke Real Estate, has now started site preparation for the redevelopment of the former 'The Guardian' printworks site at South Quay, London E14. The new scheme, known as 'London Millharbour' will provide a total of 71,000 sq m (764,224 sq ft) of office space and 2,787 sq m (30,000 sq ft) of retail and restaurant space, in four linked buildings ranging from of 9 to 19 storeys. Michael Hopkins and Partners is the architect for the scheme, which will be built in two phases. The Eastern Tower will be Phase 1, providing 42,800 sq m (460,699 sq ft) of offices and retail, with the Western Tower providing the remaining space. The main construction is due to start in early 2002 with completion planned for 2004. - (15-10-2001)

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Land Securities buys in WC1

Compaq, the US computer company, has sold the 7,803 sq m (84,000 sq ft) net Enterprise House, 190 High Holborn, London WC1 to Land Securities in a £30m deal. The eight-storey building currently accommodates disaster recovery and data storage operations and Compaq will vacate the building by the end of 2001. Land Securities is understood to be intending to offer the refurbished space at around £50 per sq ft, below current rent levels for new space. Saxon Law advises Compaq and Land Securities was advised by King Sturge. - (01-10-2001)

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'right to light' claim

Churchill Securities is now said to be seeking an injunction against Marks & Spencer claiming that its development at 70 Gracechurch Street, also known as Limebank House, 168 Fenchurch Street, London EC3 affects a "right to light" clause on an adjoining building that Churchill owns. It appears that discussions have not resolved the issue and the threat of legal action is making it harder for M&S to find a tenant. Churchill is thought to have made M&S an offer of £150m for the building, subject to planning consent being granted to convert the recently completed building into a 34-storey tower (which would reportedly cost another £130m).

Colliers Conrad Ritblat Erdman and Jones Lang LaSalle are the letting agents for the scheme. It has also been reported that three City firms have pulled out of negotiations for Limebank House due to the legal problems. - (01-10-2001)

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SE1 office scheme announced

Shell International and Lend Lease have submitted detailed plans for the redevelopment of part of the Shell Centre site in York Road, London SE1. The scheme now has a high office content, rather than a retail emphasis as originally envisaged, following discussions with London Borough of Lambeth. The £180m scheme, named Belvedere Court, includes about 32,000 sq m (344,450 sq ft), of offices, mainly in a new 12-storey building, 7,300 sq m (78,575 sq ft) of retail within the existing Shell space, 4,000 sq m (43,056 sq ft) of restaurants and cafes, 11,200 sq m (120,556 sq ft) of sports facilities and 4,700 sq m (50,590 sq ft) of conference space. The scheme has been designed by Arup Associates. Knight Frank is rumoured to be marketing the ofice development and CB Hillier Parker is the agent for the retail space. If planning approval is granted the scheme could be completed in autumn 2004. - (03-09-2001)

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WGS appointed at Wood Wharf

British Waterways has appointed Weatherall Green & Smith to advise on the redevelopment of Wood Wharf, east of Canary Wharf, London E14. Discussions are to be held with the planning authorities to "maximise the development potential" of the site. The site is seen as having potential for a "high-density, quality, mixed-use office and residential scheme". - (19-08-2001)

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Broadcasting House plans

The BBC is said to be about to go ahead with the redevelopment of Broadcasting House in Langham Place, London W1, behind the Grade II listed facade. The 46,451 sq m (500,000 sq ft) building would be redeveloped by Land Securities Trillium, which includes Bovis Lend Lease, and could take six years to complete. The scheme will increase the useable floorspace by 6,967 sq m (75,000 sq ft) to about 50,167 sq m (540,000 sq ft). The construction work is estimated to be about £200m and technology costs account for another £200m. An application for planning permission may be made by November 2001. - (29-07-2001)

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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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Greycoat to advise Exchange

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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British Land wins 51 Lime Street

British Land is thought to have acquired 51 Lime Street, London EC3 from Lloyd's of London. There is speculation that the building could be replaced with a 37,160 sq m (400,000 sq ft) office block and Foster & Partners is said to have been chosen by British Land for the redevelopment scheme. Built in 1958, 51 Lime Street was the headquarters of Lloyd's before it moved in 1986 to the headquarters building designed by Richard Rogers, now Lord Rogers. - (14-07-2001)

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'Guidance on tall buildings'

English Heritage in its new statement 'Guidance On Tall Buildings' discourages tall buildings in historic areas of London and suggests better locations are those such as Canary Wharf, Stratford and Croydon. The report has been produced jointly with the Commission for Architecture and the Built Environment (CABE). The statement says "the overriding consideration will be whether the location is suitable for a tall building in terms of its effect on the historic environment. If not, then no tall building will be acceptable, however good the design". This seems to reverse previous thinking that allowed the Baltic Exchange to be demolished to make way for the Swiss Re tower. The report reinforces the current St Paul's protected view and is for maintaining views from royal parks. In the same report CABE says that first-class design should be paramount and that an exceptional scheme could override other considerations. - (12-06-2001)

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