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thecrashingisles

Cheesegrater To Be Completed By 2014

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http://www.bloomberg.com/news/2010-12-22/british-land-oxford-properties-to-develop-london-s-cheesegrater-building.html

British Land Co., the U.K.’s second- largest real estate investment trust, and the property arm of Canada’s Ontario Municipal Employees Retirement System completed a joint-venture agreement to build a 47-story office tower in London.

The Leadenhall Building, known as the Cheesegrater because of its shape, will be completed in mid-2014 at a cost of 340 million pounds ($526 million), British Land and Toronto-based partner Oxford Properties Group Inc. said in a statement today. The Richard Rogers-designed building will be built in the City of London financial district.

British Land has contributed the site, worth about 90 million pounds. Oxford will pay the next 90 million pounds to prepare and start the development. The remaining costs will be split, said British Land, which will pay a total of around 125 million pounds in addition to the land.

Developers including British Land and Land Securities Group Plc have revived plans this year to build towers in the district after cancelling them two years ago because of the global financial crisis. A shortage of development has pushed up rents as demand for modern office space picks up.

Could we see a similar effect for residential property once prices are allowed to correct? We certainly need some better quality, more ambitious new builds.

Edited by thecrashingisles

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http://www.bloomberg.com/news/2010-12-22/british-land-oxford-properties-to-develop-london-s-cheesegrater-building.html

Could we see a similar effect for residential property once prices are allowed to correct? We certainly need some better quality, more ambitious new builds.

I dont work too far from this site. All the mothballed sites like this one, the Walkie Talkie, Shard etc are being reactivated and there are a number of major developments coming on stream around Cannon Street that i can see.

However It is still not obvious to me where the demand for occupancy will come from given that Financial Services in general will not be growing at the rate it did in the 1990's after the last recession and offshoring of back office functions continues a pace .....

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It is still not obvious to me where the demand for occupancy will come from given that Financial Services in general will not be growing at the rate it did in the 1990's after the last recession and offshoring of back office functions continues a pace .....

2014 is a long way off though, by then there really could be a genuine recovery as opposed to the faux recovery we have now.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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