One New Change transforms City of London (UK)

Land Securities' One New Change, a unique office and leisure destination, saw a successful opening day on Thursday (October 28, 2010) with just under 20,000 customers visiting from midday. The center is set to 'transform the City of London' as it combines a custom-built retail offer with world-class office space for the first time.

One New Change - Overview from St Paul's - Sept 2010 - smaller

With this scheme, Land Securities has created the largest consolidated retail and office space in the City of London.

At the time of the opening, all but one of the retail outlets were let demonstrating the confidence in the attractive location. Some 47 shops and restaurants, which opened on the first day, reported excellent trading exceeding estimated targets. The remaining outlets (60 in total) are due to open in the next few months.

The development cost is £540 million (approx. €619 mln.) and spans aprox. 52,000 m² over eight floors. With this scheme, Land Securities has created the largest consolidated retail and office space in the City.

The City mall on Cheapside with its unique location next to St Paul's will house around 3,000 office workers when fully let as well as offering seven-day retail and leisure further boosting the development's appeal to local workers, residents and tourists. To date already over a third of the office space has been let.

The iconic building with roof terrace, designed by architect Jean Nouvel has stunning views of St Paul's. The modernist development has over 6,000 floor-to-ceiling glass panes flooding the floors with natural light. Even before its opening, One New Change scooped the MIPIM Architectural Review Future Project Award for mixed-use – the first time a UK development has won since 30 St Mary's Axe (The Gherkin) in 2005.

Robert Noel, Managing Director of Land Securities London Portfolio said: "One New Change has been designed in sympathy with its rich architectural surroundings. The City mall brings high-street brands, independent shops and unique concept restaurants to the City to complement its museums, art galleries and breath-taking architecture."By opening seven days a week we are changing people's perceptions of the City and creating a new retail destination where the area's rich culture can also be enjoyed by Londoners and tourists alike. It will not only transform the City of London as a place to shop and visit but it will further reinforce the attractiveness of the City as a place to do business."

One New Change's 60 stores include Topshop, H&M and Banana Republic which also had their City debut with the new center. Jamie Oliver's restaurant Barbecoa focuses on the art of barbequing and includes a butchers as part of the establishment. It seats 200 diners, in addition to a 40-seater bar. Gordon Ramsay's as yet unnamed restaurant will occupy 910 m², with the main restaurant space on the first floor of the development and an entrance at the south east corner of the building where Bread and Watling Streets meet.

One New Change will be open from early in the morning to late in the evening accommodating the City's work

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