First pre-let announced for Cheesegrater
British Land this morning announced the first pre-let for its Leadenhall Building joint venture with Oxford Properties – the so-called “Cheesegrater”. The insurer Aon has agreed non-binding heads of terms to take ten floors of offices totalling 191,000 sq ft of the 610,000 sq ft property and has also taken options for a further 85,000 sq ft of office space.
Aon has chosen the Leadenhall Building for its UK headquarters and is taking the ten floors between levels 4 and 13 in the building, while its options are for levels 14-18, British Land said. Construction of the scheme began in January, with practical completion due for mid-2014. The tower will have 47 storeys in total.
British Land last week announced changes to its development team, signalling an expansion of its retail development pipeline. The group already has a major office space development programme under way in the capital, across six sites, set to deliver 2.2m sq ft of available office space in the City and West End by 2014. It now says its retail portfolio has significant opportunity for development and has appointed Richard Wise, previously CEO of Centros, as its Head of Retail Development. British Land’s current retail development programme comprises 2.3m sq ft in Spain and the UK.
