£300m plan to rebuild City’s Broadgate offices

Aaron Morby 13 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

McLaren wins massive Portland House refurb

Construction to start this year on £380m revamp of 28-storey building in central London
19 mins ago

Winners named for Government £10bn offsite framework

29 firms secure places on mega framework for schools, healthcare, defence and justice jobs
7 hours ago

ISG, Amey and Costain now industry’s quickest payers – list

Average payment times from main contractors slip by a day
1 day ago

Staff at Outco Surfacing start looking for new jobs

Administration notice filed two years after acquisition of NMC Group
7 hours ago

£4.75m building work provision tips Higgins into the red

Partnerships business counts cost of changes to building safety rules
6 hours ago

John F Hunt snaps up London temporary works design firm

Demolition contractor buys geotechnical and structural engineering design specialist RKD Consultant
7 hours ago

Vital Energi lands £13m package at Plumstead regen site

Specialist will start on site this summer helping to transform the former home of Arsenal FC
7 hours ago

Galliford Try to start £14m Scunthorpe Market scheme

Firm will build NHS staff accommodation and offices in two phases
7 hours ago

Vast £500m British Library expansion go-ahead

London Mayor still needs to give final nod to 800,000 sq ft extension at St Pancras site in London
1 day ago

Wates names new chief executive

Cork-born Eoghan O’Lionaird to join later this month
1 day ago

Keltbray director joins Barhale as North East chief

Mark Wood heads operations in Yorkshire and North East England
1 day ago

Major London City building green deep retrofit approved

St Bride’s Tavern near Fleet Street will be demolished for the building expansion
1 day ago

Gilbert Ash lands starring role in £38m Welsh theatre revamp

Contractor to start work this year on Theatr Clwyd upgrade
1 day ago

Property clients to ramp up spending on decarbonising

Survey reveals nearly half of property chiefs plan to speed up spending on net-zero programmes over next twelve months
1 day ago

Average self employed labour rates top £1,000 a week

Average weekly earnings reach high for skilled trades
2 days ago

BAM wins £49m Harrogate Convention Centre revamp

Local council hopes to sanction work start this autumn
2 days ago

Renaker to top-out Manchester with 71-storey skyscraper

Developer lifts the lid on planned five-building cluster for phase 3 of Great Jackson Street development
3 days ago

Costain bridge lift delayed by ground conditions

National Highways chiefs postpone planned lifting operation
2 days ago

Nexus sells utilities and EV contracting arms for £78m

Group to now focus on remaining business at south east housing civils contractor Tamdown
2 days ago

Speller Metcalfe lands lead role on £40m Tamworth revamp

Town centre to be transformed under ambitious plans
2 days ago

Scaffold boss banned over covid loan abuse

Eleven-year director ban after misuse of £50,000 loan
3 days ago

Gove issues six weeks ultimatum to sign building safety contract

Developers told to sign Government contract issued today or be banned from building homes
3 days ago

Firm fined £120,000 for lifting two builders in a telehandler bucket

Rochdale builder Hoyle Developments fined after repeated safety breaches
6 days ago

Hunt quashes reports HS2 will stop at Old Oak Common

Chancellor says no "conceivable circumstance" where HS2 would not terminate in Central London
5 days ago

London Chiswick roundabout 24-storey tower approved

Plan for 255 flats and offices finally passed after four previous schemes failed to proceed
3 days ago

Construction forecast to fall by nearly 5% this year

Private new build housing and RM&I to drive fall but infrastructure growth will also slow
3 days ago

Mace wins green office block at famous Fleet Street pub site

Contractor to build new 12-storey block pioneering latest sustainable construction methods
3 days ago

Firms readied for raft of net zero and building safety frameworks

Procurement specialist LHC to tender five mission zero retrofit and building compliance deals
6 days ago

Plans in for two Derby city centre schemes of 1300 homes

Eagle Quarter and Bradshaw Way schemes to breathe life into Derbion centre area
6 days ago

United Living names new infrastructure services MD

Former SSE Contracting operations director John Farrell joins multi-service contractor
6 days ago

Contractor services