British Land Company PLC

Committed projects

Ropemaker, London EC2
Practical completion was achieved in early May 2009 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 at the lower level, with a variety of floor plates above.

In April 2009 The Bank of Tokyo-Mitsubishi UFJ, Ltd and Mitsubishi UFJ Securities International plc signed a pre-letting agreement to take 186,500 sq ft accommodation in the building across nine floors on a lease term of 20.5 years plus an option (until June 2009) over a further 21,630 sq ft. The rest of the building is being actively marketed and has received much positive comment from the occupational market.

The building 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. In late 2008 Ropemaker was named as the Estates Gazette Green Awards Office Development of the Year.

The entrance at Ropemaker features a moving art installation by world renowned UK artist, Jason Bruges. The piece uses highly innovative technology which harnesses energy from the air flow within the building's ventilation system to illuminate numerous LEDs to varying degrees of brightness according to the speed of the air flow.

Osnaburgh Street, Regent's Place, London NW1
Construction is well progressed on three new buildings (One Osnaburgh Street and Regent's Place One and Two) 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 later this year.

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 being further enhanced through substantial planting and re-landscaping throughout the estate, including the creation of a new public square and outside courtyard, remodelling of the existing public space and the installation of various commissioned works of public art.

Contracts for sale have been exchanged on all the residential accommodation representing a sale value in excess of £58 million. The office space is attracting an encouraging level of occupier interest as it nears completion.

Puerto Venecia, Zaragoza, Spain
The retail park element (900,000 sq ft) of the Puerto Venecia development has been completed. Sales, signed leases and Heads of Terms at the retail park now total close to 90% with the latest lettings being at rental levels amongst the highest achieved in Spain. In light of the current economic conditions in Spain the opening of the shopping and leisure elements of the Puerto Venecia development has been rescheduled to 2011/12. We will continue to monitor the situation in order to target an opening date that will give us greater flexibility in our ongoing letting strategy and enable us to launch the shopping and leisure centre into a more positive retailing environment.

Development Prospects

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 610,000 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 viewing corridors looking towards St Paul's Cathedral from the west, The Leadenhall Building will appear to 'lean away' from that historic monument.

Demolition and preliminary basement works are near completion. We are reviewing the design and construction proposals alongside a reassessment of the timing of the delivery of these offices into the market.

North East Quadrant (NEQ), Regent's Place, London NW1
Detailed planning consent was received in March 2009 for the North East Quadrant of the estate to provide a 500,000 sq ft mixed use scheme including 120,000 sq ft of residential accommodation. The office design incorporates three glass elements 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 Stephen Marshall Architects. 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 space, providing accommodation for 14,000 workers and residents.

4 Broadgate, London EC2
Following the relocation of Henderson Group plc into our completed 201 Bishopsgate development various proposals are being progressed which will lead to the redevelopment or refurbishment of the existing building.

Colmore Row, Birmingham
Following the purchase of the site in 2007, planning consent was secured in September 2008 for a landmark 35-storey tower to provide 280,000 sq ft of office space in central Birmingham's prime office location. The team, with Hamilton Associates as architect, 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
The development is set to transform the area situated around the Meadowhall Shopping Centre in Sheffield. Outline planning consent was received in May 2009 for up to 2.2 million sq ft of mixed use accommodation. The scheme will include residential, office and mixed use accommodation, a new riverside park and 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. Development will be brought forward on a phased basis.

Euston Station
In partnership with Network Rail, we have been working up proposals 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.

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. Planning consent for the first phase, comprising 828 residential units, was secured in May 2007. The first three parcels have been sold to Barratt Homes where construction continues. The Company retains a share in future returns over an agreed threshold.

Theale
Working with Countryside Properties, we have residential planning consent for 350 units at Theale.

New Century Park, Coventry
The site remains substantially let to Ericsson, but has potential for 580,000 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 is held in a joint venture with Goodman Real Estate (UK) Limited.

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