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Ernst & Young

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City development opportunity

Delancey gains consent

Sandford C Bernstein moves

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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Ernst & Young confirm SE1 pre-let

Ernst & Young, the accountancy firm, has confirmed that it is to take about 35,767 sq m (385,000 sq ft) at CIT's More London Bridge development in London SE1. Ernst & Young is said to be taking Building 1A, with an option to take a further 10,684 sq m (115,000 sq ft) in the linked Building 1B. The firm's relocation in early 2003 could release up to 12 buildings onto the market, including Rolls House, 7 Rolls Buildings, London EC4 and Becket House and York House, London SE1. DTZ Debenham Tie Leung is advising Ernst & Young. - (25-03-2001)

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Ernst & Young to More London Bridge?

A report in this weeks Sunday Business has said that Ernst & Young has decided to relocate to purpose built offices on the South Bank. Ernst & Young had been linked to taking office space at One Westminster Bridge but following the decision to refuse planning approval it is possible that the firm is now again looking closely at taking space at CIT's More London Bridge in SE1. Ernst & Young has in the past been linked to Plot 4 at More London Bridge for a 40,864 sq m (439,865 sq ft) building. - (25-02-2001)

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