Cheesegrater project gets the go-ahead

first_img whatsapp Tags: NULL Show Comments ▼ Cheesegrater project gets the go-ahead by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Wednesday 22 December 2010 7:42 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proofcenter_img whatsapp BRITISH Land confirmed its deal with Oxford Properties to build the Cheesegrater skyscraper yesterday, bringing the £340m project closer to fruition after it was sidelined during the recession. British Land has kicked off the 50:50 joint venture by contributing the site on Leadenhall Street, worth £90m, and expects to spend a further £125m. The FTSE 100 firm will act as lead development manager.Planning consent, demolition and initial work has already been completed, and the 736ft (224m) tower is scheduled for completion in mid-2014. The developers of the wedge-shaped building, which has been designed by Rogers Stirk Harbour and Partners, are yet to sign up a pre-let tenant, although there are already thought to be several companies interested in taking space. The companies said yesterday a range of occupiers from the insurance, financial, professional and corporate business sectors have expressed an interest in the 610,000 square feet of office space available. Oxford Properties, the real estate arm of the Ontario Municipal Employees Retirement System pension fund, manages C$16bn (£10.3bn) of real estate around the world. It is an investor in the Watermark Place development next to Cannon Street station. Oxford Properties’ senior managing director in Europe, Paul Brundage, said: “In investment terms, this project is consistent with Oxford Properties’ strategic goals and is further evidence of our long-term commitment to, and confidence in, the London market.”British Land chief executive Chris Grigg added that the Leadenhall Building “will provide the City of London with a unique combination of iconic architecture with world-class public and office spaces”. Shares in British Land, the UK’s largest real estate investment trust with £8.9bn of assets under management, closed up 1.3 per cent at 529.5p. Share KCS-content last_img read more