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Cranes at Canary
City demolition start
Docklands scheme cleared
Consent for SW1 scheme
Bank HQ plans
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Office tower talks
09-09-2010
Land Securities is now believed to be in talks with Songbird subsidary Canary Wharf Group to be the development partner and contractor for its 'Walkie Talkie' office tower scheme at 20 Fenchurch Street, London, EC3. The 660,000 sq ft mixed use development is expected to be complete by 2014.
West End letting
02-09-2010
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.
June lettings rise
06-08-2010
Central London office lettings in June 2010 rose to nearly 940,000 sq ft in 38 deals of 5,000 sq ft and over. This brings London take-up for the first 6 months of 2010 to 5.7 million sq ft, matching the last half of 2009 and a 60% rise on the first 6 months of 2009.
Broadgate start in 2011
03-08-2010
British Land is to demolish UBS's offices at 4 and 6 Broadgate near Liverpool Street station, and erect a 65,000 sq m (700,000) sq ft building with four trading floors. The Swiss bank will occupy the new building and has agreed an 18-month rent-free period and will then pay £54.50 per sq ft. The new 5 Broadgate will cost £340m to construct. British Land and Blackstone plan to start building in the middle of 2011 and hope to finish in 2014. British Land is also in negotiations with potential tenants for its planned 122 Leadenhall Street tower, known as the Cheesegrater.
Lettings in Land Securities buildings
29-07-2010
News International is taking 5,110 sq m (55,000 sq ft) of offices on the ground, first, fourth and fifth floors at Land Securities' 2 Thomas More Square and 1,400 sq m (15,000 sq ft) on the 14th floor of 3 Thomas More Square, both in London, E1. The leases run to 2020. These deals take total occupancy in Thomas More Square to just under 99% with News International occupancy at Thomas More Square over 260,000 sq ft.
May take-up increase
06-07-2010
London office lettings in May 2010 reached 950,000 sq ft, after a return to the levels seen earlier this year. The total was underpinned by a 185,000 sq ft letting to Shell at Canary Wharf. Elsewhere the City is currently outstripping the west end and letting activity is picking up in Midtown. Figures compiled by Cityoffices.net
Can of Spam consent
02-07-2010
Targetfollow has gained revised consent for its planned 22-storey office development with retail at ground level, at 60-70 St Mary Axe, London, EC3. The building is being nicknamed "Can of Spam" because of its shape. The architect is Foggo Associates for the 39,166 sq m (421,582 sq ft) gross or 27,870 sq m (300,000 sq ft) net, island scheme. A start is not expected until 2011 or 2012. DP9 is the planning consultant. DTZ is advising on the development.
Approval for west end tower
01-07-2010
Portman Estate has gained London Mayor's approval for its demolition of the 7,636 sq m (82,200 sq ft) Marble Arch House at 32-50 Edgware Road, London, W2 and its replacement with a 9,940 sq m (107,000 sq ft) tower with retail on the ground floor and offices above. The architect is Bennetts Associates.
April figures show slowing
10-06-2010
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.
Broadgate HQ plan
19-05-2010
British Land has confirmed press reports that it is planning a new headquarters for UBS covering around 65,000 sq m (700,000 sq ft) at its Broadgate, London, EC2 site, on the site of existing UBS buildings number 4 and 6. The scheme is expected to cost £175m. The new HQ is expected to be completed in 2014.
Lettings maintain momentum
28-04-2010
Central London office lettings maintained their momentum in March 2010, with nearly 1.1m sq ft transacted. March was the fifth successive month when office take-up has topped 1m sq ft. The City accounted for nearly 500,000 sq ft, whilst a spate of large lettings around the NW1 postcode, in particular at British Land's Regent Place scheme, helped boost the west end.
Tower topped out
12-04-2010
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.”
Cheesegrater revival
01-04-2010
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.
London lettings surge again
25-03-2010
Central London office lettings topped 1m sq ft again in February 2010, continuing the positive trend of the last six months. Although only 30 deals over 5,000 sq ft were signed, large lettings to Shell, LOCOG and Stephenson Harwood, pushed the total into seven figures again. Just over 100,000 sq ft was new, grade A, space.
Major scheme launch
16-03-2010
Legal & General is launching its 500,000 sq ft Renzo Piano-designed Central St Giles office scheme in London, WC2, at MIPIM 2010. The scheme includes 400,000 sq ft of offices, with large office floors of 43,000 sq ft, plus 109 apartments and retail. Letting agents are Jones Lang LaSalle and Cushman & Wakefield.
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