£300m plan to rebuild City’s Broadgate offices

Aaron Morby 14 years ago
Share

British Land and Blackstone Group are to demolish part of the iconic 80s Broadgate office development in London to make way for a £300m modern office building.

The new offices will be located on the site of 4 and 6 Broadgate and forms part of a deal to retain Swiss bank UBS as the key tenant on the Broadgate Estate.

There is very little detail about the new plan but a source told the Enquirer that the new offices would be on a similar scale to the existing Broadgate development.

There were fears that British Land would lose UBS as a tenant when it reaches break clauses in its existing leases in 2014. The final deal must still be signed with UBS but it comes as a big boost to the City office market.

Last February the joint venture between the two developers, called Bluebutton, said it was seeking planning permission for a refurbishment of 4 and 6 Broadgate by 2013 at a cost of £44 million.

But this plan has been torn up in favour of demolishing two of the existing UBS buildings to make way for a modern office development.

Broadgate was originally the brainchild of Godfrey Bradman, who was, like the Reichmanns, one of the key property figures who reshaped London in the 1980’s.

Bovis pioneered management contracting and fast-track construction at Broadgate during the rapid expansion of the City as a result of Big Bang.

Latest news

Costain moves HQ to London’s Can of Ham

Contractor makes return to London from Maidenhead base
7 hours ago

Historic breakthrough for HS2’s longest tunnel drive

TBM Florence ends of her 10 mile journey under the Chilterns
11 hours ago

Careys back in profit after £47m turnaround

Contracting division back in profit ahead of three-year growth plan
16 hours ago

Willmott Dixon exits stage left from Essex theatre contract

Contract re-tendering shines spotlight on growing schism between contractors and clients
23 hours ago

Former Keltbray highways MD joins McAlpine

Vip Gandhi takes lead role at Transport division
19 hours ago

Purpose build student schemes to surge again

Unite assembles record £1.3bn pipeline as fall in HMO supply boosts PBSA sector
22 hours ago

Bidding starts for £1.4bn Midlands Rail Hub Alliance

Alliance will deliver upgrades to rail lines and stations around Birmingham and nearby towns
23 hours ago

Brickability sounds warning over materials demand

Distributor sees lower sales lasting for longer before house building recovers
22 hours ago

English Cities Fund raises extra £200m for work pipeline

Muse, Homes England, L&G partnership to double in size
23 hours ago

Go-ahead for 64 homes at former Glasgow Coliseum theatre

Robertson-owned developer Urban Union to build four housing blocks at site
22 hours ago

Competition probe launched into 8 major house builders

Cartel watchdog says volume house builders may have exchanged competitively sensitive information
2 days ago

Cement-free concrete firm falls into administration

DB Group also owned Pudlo waterproofing products
2 days ago

Everton Stadium now structurally complete

Laing O'Rourke lifts final concrete terrace section into place
2 days ago

HS2 launches third London Northolt tunnel TBM

1,700 tonne machine begins 3.4mile dig under the capital
2 days ago

Willmott Dixon set for Manchester science park job

Contractor understood to be in final stages of talks to land £75m Greenheys building
5 days ago

Transport jobs get £4.7bn of cancelled HS2 cash

Government details funding for North and Midlands from 2025
2 days ago

Stewart Milne went down owing supply chain £153m

So far 1,375 firms have come forward with unpaid bills
6 days ago

Didcot disaster investigation enters its ninth year

Still no answers for families of quartet killed in demolition collapse
5 days ago

Mount Anvil wins £275m Westminster estate renewal

First phase of Church Street area regeneration will deliver 400 new homes and a library
5 days ago

Trio of A47 road upgrades to go-ahead as legal challenge fails

20-month delay adds tens of millions to dualling costs
5 days ago

Skanska and Morgan Sindall win £277m duo of Cambridge jobs

Railpen awards £200m Botanic Place and £77m Devonshire Gardens office jobs
6 days ago

Offsite specialist Merit sees profits grow

Contractor sees further growth in turnover and profits
5 days ago

Morgan Sindall delivers another record year of profit

Revenue tops £4bn as pre-tax profit soars 70% to £144m
6 days ago

Galliford Try nets two pipelines and road job worth £98m

Firm wins £64m of Thames Water pipelines and Halifax road improvements
5 days ago

HS2 viaduct blunder over wonky concrete segments

Align JV now drilling out concrete joint as part of week-long remedial work
7 days ago

City of London hots up as 9m sq ft under construction

Investors return to City as "10 Cheesgraters" of floorspace under construction
6 days ago

Four arrested in £140m property fraud probe

Serious Fraud Office investigating collapse of property developer Signature Group
7 days ago

McLaren gets green light for 31-storey student tower

Revamp of historic Birmingham site will provide 759 student beds and 189 apartments
6 days ago

BT Tower to become hotel

New owner MCR Hotels to transform iconic building
6 days ago

Plans in for first phase of £1.7bn ID Manchester

Plan to reinvent 1960s Renold Building as a new innovation hub
6 days ago

Contractor services