City of London Corporation to forward-purchase new office development
21 Lime Street, EC3
The City of London Corporation is to forward-purchase a private Asian overseas investors’ and Aldgate Developments’ proposed new office and retail development adjoining the City’s Leadenhall Market and close to Lloyds.
The building will comprise 35,000 sq ft of offices, including upper floor terraces and ground floor retail accommodation of 2,700 sq ft. Completion is timed for the end of 2016.
Shaun Gorvin of GS Capital Advisors, who acted for the developers, commented: “Our clients are delighted to be partnering with the City to create superb new offices in this wonderful location.”
Michael Cassidy, Chairman of the Property Investment Board at the elected City of London Corporation, said “This will be another example of the City actively providing smaller-scale new office space above new shops in the centre of our business district. This will form a fresh gateway to Leadenhall Market and we look forward to its completion.”
The City were advised by CBRE.
Contact: Shaun Gorvin GS Capital Advisors LLP
Tel-0207 118 0056. E mail: email@example.com
The City of London Corporation, headed by the Lord Mayor, provides local government and policing services for the financial and commercial heart of Britain, the 'Square Mile'. In addition, the City Corporation has three roles: (1) To support and promote the ‘City’ as a world-leading financial and business hub, with outward and inward business delegations, high-profile civic events, research-driven policies all reflecting a long-term approach. See www.cityoflondon.gov.uk for more details. (2) to support London’s communities by working in partnership with neighbouring boroughs on economic regeneration, education and skills projects. In addition, the City of London Corporation’s charity City Bridge Trust aims to address disadvantage across Greater London through quality grant-making and related activities. It makes grants of more than £15 million per year to charitable projects in London. The Corporation also supports education with three independent schools, three City Academies, a primary school and the world-renowned Guildhall School of Music and Drama. (3) To look after key London heritage and green spaces including Tower Bridge, Museum of London, Barbican Arts Centre, City gardens, Hampstead Heath, Epping Forest, Burnham Beeches, and important ‘commons’ in south London. And – with its heart in London’s Square Mile.