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Completion of D2 Private's 9,300 sq m (100,000 sq ft) speculative office building at 23 Savile Row, Mayfair, London, W1, designed by Eric Parry Architects, is expected in March 2009. The development manager of the scheme, which also has retail on the ground floor and six flats on the top two floors, is Stanhope. Mace is the main contractor at the old English Heritage Fortress House HQ. - (05-12-2008)
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Project Abbey consortium of investors led by Christian Candy, founder of Candy & Candy, has acquired the Middlesex Hospital site on Mortimer Street, London, W1, for about £200m. The 1.3ha (3 acre) NoHo site will be redeveloped into a 46,450 sq m (500,000 sq ft) mixed use scheme, which will include offices, although 50% will be residential. Completion is planned by 2011. Savills is advising Project Abbey.
- (06-07-2006)
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HBG is on site for City & West End Development’s project at 30-32 Savile Row, London W1 and is on schedule to complete during the first quarter of 2007. When completed the offices will provide approximately 3,716 sq m (40,000 sq ft) of space. - (04-07-2006)
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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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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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