Portfolio Description
Developments
Committed projects
The Broadgate Tower, London EC2
The Broadgate Tower, a 35 storey tower by architects Skidmore Owings & Merrill, will provide 400,000 sq ft of office accommodation designed to meet the needs of both financial and professional occupiers. Construction remains on programme for completion in the second half of 2008.
Built in conjunction with 201 Bishopsgate, a 13 storey building which completed in April 2008, the buildings sit on a raft constructed over the railway lines that run into Liverpool Street Station. Between the two buildings will be a major new public space and galleria, with shops, bars and cafes. Significant investment is being made in landscaping the surrounding areas to fully integrate the development into Broadgate.
The development has attracted strong occupier interest, with 155,000 sq ft already let to Reed Smith Richards Butler LLP (39% of the space).
Ropemaker, London EC2
Work is well under way on this 586,000 sq ft office development, situated on a prominent City island site close to Moorgate and Liverpool Street. The 20 storey building, designed by Arup Associates for both professional and financial services occupiers, provides two trading floors of over 42,800 sq ft at the lower level, with a variety of floor plates above.
Ropemaker has impressive sustainability credentials, including expansive roof terraces with stunning City views, rainwater harvesting, and use of a double-glazed tilting façade to reduce heat gain.
The foyer of Ropemaker will incorporate two installations by world renowned artist, Jason Bruges. One is a multiple-screen-based installation graphically reflecting the life and energy use within the building and the other is a moving light sculpture in a vatrine to one side of the entrance.
Work is progressing on site; the steel frame has reached the top level and practical completion is scheduled for the summer of 2009.
Osnaburgh Street, Regent’s Place, London NW1
Construction has commenced on three new buildings (Regent’s Place One & Two and One Osnaburgh Street) over a 2.5 acre site on the west side of Regent’s Place. The 490,000 sq ft mixed use development will include 110,000 sq ft of residential accommodation. Designed by Terry Farrell and Partners the development will significantly extend and enhance Regent’s Place, already a successful 13 acre West End office campus. The development will include a community theatre and additional retail provision around the new public square. Practical completion is programmed for autumn 2009.
An important part of the masterplan for Regent's Place has been to increase the permeability of the estate through the creation of new or improved east/west and north/south links, and a new western entrance onto Osnaburgh Street. This gives improved pedestrian access within the estate and through to the transport links of Great Portland Street and Warren Street underground stations.
This improvement to the environment is further enhanced through substantial planting and re-landscaping throughout the estate, including the creation of a new public square and outside courtyard, and remodelling of the existing public space.
The Leadenhall Building, London EC3
Designed by Rogers Stirk Harbour + Partners, the new 47 storey building will rise to a height of 736 ft and provide 612,000 sq ft of the highest quality office space in the City. The spectacular scale of the public space at the base of the building, featuring mature trees and a range of retail and amenity provision, will be unprecedented in London.
The development’s tapering shape delivers varied sizes of floor plates, all with spectacular views over London. In addition, locating the core to the rear of the building allows for adaptable, clear floors at each level.
With a development of this scale in such a prominent location, great care has been taken to ensure it sits well with the surrounding architecture. In particular, with regard to the planning viewing corridors in place, when viewed from the west looking towards St Paul’s Cathedral, The Leadenhall Building will appear to ‘lean away’ from that historic monument.
Demolition of the existing building is nearing completion, allowing delivery of the building to be scheduled for the autumn of 2011.
Puerto Venecia, Zaragoza, Spain
The Puerto Venecia development continues with completion of the retail park element (900,000 sq ft) to occur on a phased basis from June 2008 through to the autumn. Sales, signed leases and Heads of Terms now total 87% with the latest lettings being at rental levels amongst the highest achieved in Spain. Tenants who will occupy the park include Leroy Merlin, Conforama, PC City, Porcelanosa, Menaje del Hogar and Casa. The IKEA store (323,000 sq ft) has been trading since May 2007 on the site and is reported to be trading 20% above expectations with a current estimated footfall of over 300,000 a month.
Much work has already taken place regarding sustainability during construction. Over 10,000 trees have been planted,140,000 sq ft of indigenous grassland is planned and significant savings were made in respect of earth movement by reaching agreements with neighbouring land owners. Construction is about to take place on a 135,000 sq ft lake, which not only adds to the environment but also will be a natural tank for watering, flushing toilets and fire fighting systems.
Over 10 km of bike paths are already under construction and all buildings have been designed to be energy efficient. Finally a co-generation system is under study at present, together with the implementation of 500 kw of photovoltaic roof panels.
The target opening date for the covered Shopping Centre (770,000 sq ft), anchored by El Corte Inglés, is Q1 2010 and groundworks are scheduled to commence imminently. Tenant interest for the shopping centre remains strong with the significant secondary anchor signing of Primark on 68,000 sq ft (their largest unit signing to date in Spain) and other lettings to well-known, international and national operators are expected to be announced shortly.
Giltbrook retail park, Nottingham
The 199,000 sq ft mixed use scheme of retail and industrial space remains on target to complete in the autumn 2008 with the retail space fully let or under offer at rents well above those anticipated at the time of acquisition.
In terms of sustainability, the buildings will incorporate photovoltaic cells to provide lighting and solar collectors to pre-heat water for the hot water system. To reduce water use, water used in showers and washbasins will be recycled for flushing toilets and a 50,000 litre tank is to be installed on the roof for collecting rainwater. Ground-source heat pumps will convert energy stored in the ground in order to provide environmentally friendly heating, and two wind turbines are to be in operation.
Fill material used at the site will include recycled products such as crushed bricks and other materials from demolition sites, all basic timber will be from sustainably managed sources and the building products have been specified with a zero ozone-depleting products rating.
Development prospects
North East Quadrant (NEQ), Regent’s Place, London NW1
A resolution to grant planning consent was received in April 2008 for the North East Quadrant of the estate to provide a 501,000 sq ft mixed use scheme including 122,000 sq ft of residential accommodation. The design incorporates three glass towers of 8,10, and 16 storeys, with floor to ceiling glazed external cladding, linked by two atria. The office element is designed by Wilkinson Eyre, with the apartments by Munkenbeck and Marshall. The development will complete the Regent’s Place Estate, which is set to double in size to some 2 million sq ft of office, retail and residential accommodation, providing accommodation for 14,000 workers and residents.
4 Broadgate, London EC2
As part of our Broadgate 2020 master planning exercise we identified the opportunity to redevelop 4 Broadgate and generate a significant uplift over the existing floor area. As part of the letting of 201 Bishopsgate to Henderson Group plc we have accepted a surrender of their lease at 4 Broadgate to facilitate this future development. A planning application for a building of circa 390,000 sq ft will be submitted in due course.
Colmore Row, Birmingham
Following the purchase of the site in 2007, a planning application was submitted in April for a landmark 35 storey tower to provide 284,000 sq ft of office space in central Birmingham’s prime office location. The team, with Hamilton Associates as architects, are working closely with Birmingham City Council and other stakeholders to deliver a high quality building that will be an asset to the city.
The building will incorporate a range of sustainable measures and will provide a 30% overall reduction in energy use compared with current standards. It will also accommodate biodiversity enhancement measures such as green/ brown roofs and wildlife boxes.
Meadowhall additional land – The Lower Don Valley, Sheffield
This proposed mixed use development is set to transform the area situated around the Meadowhall Shopping Centre in Sheffield. Currently at the master planning stage, the site will provide circa 1.1 million sq ft of residential, office, and mixed use accommodation and will include a new riverside park. An outline planning application for the first phase will be submitted imminently. Planning consent has been secured for a 120,000 sq ft car showroom retail facility. Further planning applications and development will be brought forward on a phased basis.
The scheme will incorporate a range of measures to enhance the biodiversity of the area and is intended to act as a catalyst for the wider regeneration of the Lower Don Valley.
Euston Station
British Land has been selected by Network Rail as its preferred Development Partner for the redevelopment of Euston Station. The 15 acre site has potential for more than 3 million sq ft of mixed use development, including office, retail, residential and a new station. Allies and Morrison is the Masterplan Architect, with Foreign Office Architects working closely with them on the integration of the station design within the masterplan. Proposals are being progressed with a view to submitting an outline planning application in 2010. Subject to planning, work could start in 2011.
Canada Water
At Canada Water, in joint venture with Canada Quays Limited, the Company has entered into a Development Agreement with the London Borough of Southwark for the development of a major mixed use scheme, which includes master planning 40 acres of the Rotherhithe Peninsula. Outline consent for the first phase, comprising 828 residential units, was secured in May 2007. A conditional sale of the first phase was agreed with Barratt Homes in December 2007. The sale of the first parcel completed in March 2008 and construction has commenced.
Theale
Working with Countryside Properties, we secured residential planning consent for 350 units at Theale in September 2007 following a planning inquiry.
New Century Park, Coventry
The site remains substantially let to Ericsson, but has potential for 582,000 sq ft of business space together with a further 12 acres of residential development land. Development will be brought forward on a phased basis. The site has been sold into a joint venture with Goodman Real Estate (UK) Limited.
