Land Securities : Landsec secures resolution to grant planning permission for 21 Moorfields, EC2
February 20, 2018 at 01:51 pm
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Landsec announces it has secured a resolution to grant a revised planning permission for its proposed 564,000 sq ft development at 21 Moorfields, EC2.
In July 2017 Landsec and Deutsche Bank exchanged a pre-let agreement for the bank's new London headquarters at 21 Moorfields on a 25-year lease, conditional on achieving revised planning consent, with Deutsche Bank committing to take a minimum of 469,000 sq ft. Landsec and Deutsche Bank have collaborated on the design, which will deliver a world-class headquarters for one of the largest employers in the City.
Landsec had already committed to construct the substructure, which is due to complete in March 2019 and now expects that construction will continue straight through to practical completion, anticipated in November 2021.
Colette O'Shea, Managing Director, London Portfolio, Landsec, said:
'We welcome the resolution to grant planning permission and look forward to continuing to work in partnership with Deutsche Bank and the City of London Corporation to deliver this strategically important site.'
Chris Hayward, Planning and Transportation Committee Chairman, City of London Corporation, said:
'We are delighted to have unanimously approved the scheme for the new Deutsche Bank headquarters at 21 Moorfields. With the Elizabeth line supporting the creation of an estimated 63,000 jobs in the City of London and Isle of Dogs, this office, located above a future station, fits in well with the City's ambitions for growth. Deutsche Bank's move demonstrates a high level of confidence in the City of London as a leader in financial and professional services. The City Corporation remains committed to supporting businesses with an additional 1.37 million square meters of office space under construction that has the potential to accommodate 85,000 workers.'
Land Securities Group plc published this content on 20 February 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 February 2018 13:50:06 UTC.
Original documenthttps://landsec.com/media/press-releases/2018/landsec-secures-resolution-grant-planning-permission-21-moorfields-ec2
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Land Securities Group PLC is a United Kingdom-based real estate company, which is engaged in building and investing in buildings, spaces, and partnerships to create sustainable places, and connect communities. The Company operates through four segments: Central London, Major retail, Mixed-use urban and Subscale sectors. The Central London segment includes all assets geographically located within central London. Major retail destinations include all regional shopping centers and shops outside London and its outlets. The Mixed-use urban segment is engaged in capital investment. The Subscale sectors segment consists of leisure and hotel assets and retail parks. The Company has approximately 23.8 million square feet of retail, leisure, workspace, and residential hubs. Its properties include Goodmayes Retail Park, Chadwell Heath; White Rose Centre, Leeds; Hill House, London, Parrswood Leisure Park, Manchester; Novotel Sheffield Centre, Sheffield; Fountain Park, Edinburgh, and others.