Land Securities board gives go-ahead New Street Square development (UK)

Land Securities announces that it will proceed with the fourth and final building of the New Street Square development on New Fetter Lane, EC4. Building D is part of the 730,000 sq ft mixed-use scheme, designed by Bennetts Associates, which is driving regeneration of the Midtown area.

Building D will provide 235,000 sq ft of offices and is scheduled for completion in Spring 2008. Buildings B (209,360 sq ft) and C (42,300 sq ft) are currently under construction and due for occupation by Deloitte in 2007. Building A is also currently under construction and will offer approximately 198,000 sq ft of office accommodation over 17 floors.
The scheme will comprise approximately 30,000 sq ft of retail and leisure.

Mike Hussey, Land Securities Managing Director, London Portfolio commented;
"Good momentum has been generated by the letting to Deloitte and we believe the scheme should be completed in one phase. The New Street Square development will breathe new life into this commercial district and should provide a strong draw to corporate and professional service occupiers considering relocation and seeking a high quality environment"

The New Street Square development replaces an assortment of post war office blocks with four contemporary office buildings, all of which open onto a new landscaped central square lined by shops and cafes.

CB Richard Ellis and Jones Lang LaSalle are joint leasing agents for the offices and Churston Heard are leasing the retail units.

Source: Land Securities

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