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One in the Eye for Moorfields Development

24 March 2017 | Updated 01 January 1970
 

Land Securities has been quick to issue a statement regarding its 21 Moorfields, London EC2 development with press speculation suggesting Deutsche Bank has made a huge post-Brexit commitment to the property.

The 1974, 516,000sq.ft, 21 Moorfields building is currently under complete re-development and is valued in the £100 million range.

Land Securities statement reads: 'In response to recent press comment regarding the development site at 21 Moorfields, Land Securities confirms, in line with previous market guidance, it will shortly complete demolition of the existing buildings which will be followed by piling and construction of an above station raft in accordance with a consented scheme. Construction of the raft is due to be completed by June 2018.

'Land Securities is also in discussions with Deutsche Bank regarding a pre-let for the development which would require alterations to the design of the building above ground. These negotiations will take several months and there is no guarantee they will lead to a transaction'.

The new building (or two buildings which currently have planning permission) will sit above one entrance to Moorgate Station (which is likely to be re-named Liverpool Street Crossrail).

Land Securities is the UK’s largest listed commercial real estate company. Its £14.5 billion portfolio totals 23.6 million sq.ft and includes some of London’s most desirable office buildings and the UK’s most successful shopping and leisure destinations.

Picture: 21 Moorgate is under demolition/construction - with thanks to Google Maps

Article written by Robin Snow | Published 24 March 2017

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