Land Securities progresses new Cheapside development (UK)

Land Securities announces its plans to proceed with its development at 120 Cheapside, EC2, to provide approximately 170,000 sq ft (15,794 m²) of high quality office space in the heart of the City and 11,000 sq ft (1,022 m²) of retail accommodation fronting Cheapside.

The mixed-use building, which is located at the junction of Wood Street and Cheapside, forms part of the exciting regeneration of the whole Cheapside area, including One New Change.

Mike Hussey, Managing Director, London Portfolio at Land Securities commented:
“120 Cheapside is an exciting scheme which forms an important part of our ongoing development programme and demonstrates our confidence in the improving City market. It is our intention to commence demolition in late Summer 2005 delivering the building in mid 2007.”

Knight Frank has been appointed as the sole letting agents on the offices element and Strutt and Parker on the retail.

Neil Prime, Head of City Agency at Knight Frank commented: ‘We are delighted to be involved with Land Securities on this project. As current built stock continues to erode, the timing of 120 Cheapside should take advantage of the anticipated selective shortages of large Grade A availability in the City core.”

Source: Land Securities

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