22nd May 2007 07:16
British Land Co PLC22 May 2007 THE LEADENHALL BUILDING GO-AHEAD Underlining its confidence in London as the world's leading internationalfinancial and business centre, British Land said today that its Board hasformally decided to press ahead with construction of the Leadenhall Building,its 224m (736 ft) new tower in London, EC3. The stunning 47 storey building (612,000 sq ft), set to be one of the tallest inthe City of London, is part of British Land's £4 billion development programmewhich also includes the new 35 storey Broadgate Tower and 201 Bishopsgatedevelopments in the City. Stephen Hester, Chief Executive, British Land, said: "We are confident aboutLondon's future and its continued renaissance as the premier internationalbusiness centre in the world. We believe the Leadenhall Building to be clearlythe best of the new generation of City towers and expect it to attract stronginterest from prospective occupiers. Our customer led strategies are deliveringhigh levels of letting activity elsewhere, most notably all of 201 Bishopsgateand 40 per cent of the adjoining Broadgate Tower is now let or under offer,underpinning our confidence in the appeal of our buildings." Demolition on the existing site is well underway and the Leadenhall Building isscheduled for completion in the first quarter of 2011 with construction costscirca £286 million. 22 May 2007 For further media information:Laura De Vere - tel 0207 467 2920/mobile: 07739 292920 Images of The Leadenhall Building, http://www.britishland.com/pressrelease220507b.htm Notes to Editors: British Land currently has 5.2 million sq ft of committed development projectsincluding 2.84 million sq ft of London offices. Other developments in addition to The Leadenhall Building and 201 Bishopsgateand The Broadgate Tower include: Ropemaker EC2, the landmark Willis BuildingEC3; Ludgate West, EC4; York House, W1 (British Land's new head office);Regent's Place NW1. British Land is also today announcing its Preliminary results for the year ended31 March 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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