London office construction deal agreed

Office design news from Morgan Lovell

Published on 26-10-2010

British Land has signed an agreement for a 50:50 joint venture with Oxford Properties for the construction of the unique Cheesegrater skyscraper project at a site in London.

The £340 million project has been earmarked for a site on Leadenhall Street and the construction tender process is now set to get underway in January next year, with completion of the build predicted for the second quarter of 2014.

Overall, the building will deliver 610,000 sq ft of new office interiors to the capital and stand at 224 metres.

"With its unique and iconic architecture, it is a building which will provide an unbeatable combination of style, presence, location and office floor space in the heart of the City of London," commented Chris Grigg, chief executive of British Land.

Elsewhere in the capital, a rival development is set to get underway at Fenchurch Street in a similar 50:50 joint venture, this time between Land Securities and Canary Wharf Group.

The 37-storey Walkie-Talkie Tower is set to offer 690,000 sq ft of office space in total and will see its uppermost floors converted into a sky garden.

Posted by Paul Kelly