Land Sec still building with trio of jobs to start in 2011

Grant Prior 12 years ago

Land Securities’ gamble to keep building during the downturn is paying off as the developer confirmed plans for another raft of speculative commercial schemes in London today.

Land Sec was the first major developer to start building again in London and the firm’s bold approach has paid off with a positive set of half-yearly figures showing a pre-tax profit of £455m.

The developer is keen to press on with more schemes to take advantage of “competitive construction pricing” and three major sites are due to start construction next year:

  • At 123 Victoria Street, SW1 (formerly Ashdown House) Land Sec has submitted a planning application for the comprehensive refurbishment of the 21,370 sq m property to reposition it correctly for the market for delivery in late 2012 when there are limited development completions due in the West End.
  • 110 Cannon Street, EC4 is currently home to K&L Gates who will vacate the building to move into Land Sec’s One New Change development in May 2011.  A planning application to refurbish the 7,010 sq m building has been submitted and work will start on site when K&L Gates vacate in order to deliver the completed space back into the City market in mid 2012.
  • 60 Ludgate Hill and 30 Old Bailey, EC4 are two neighbouring buildings where Land Sec has an existing planning consent for the development of a single building.  Plans have been revised and a further application will be made to the City Corporation for two buildings with an aggregate area in excess of 28,000 sq m more suited to the market.  The earliest start on site will be August 2011 for delivery of the completed buildings in early 2014.

Chief Executive Francis Salway said: “In London, we believe that developing in a supply-constrained market is a highly attractive opportunity. We were the first to start a large development programme in London, and we have been the first to take profits from it.  We have the finance, the schemes and expertise to start additional projects in London in 2011.”

Latest news

Materials giant CRH looks to sell contractor Farrans

More than 550 staff set to get new owner
7 hours ago

Ilke Homes pulls off £100m record-breaking fund raise

Largest-ever capital raise by a UK modular house builder to fund expansion
10 hours ago

Construction buyers fear for year ahead

"Construction companies now have a tightrope to walk in terms of being ready for recovery and cautious around investment"
9 hours ago

Gove calls for competition probe into house building

Levelling Up and Regeneration Bill 'strengthened' with new measures
13 hours ago

Schools get £500m for energy upgrades this winter

Extra cash found for better heating controls, insulation and energy efficient lighting
12 hours ago

1,000-home North London scheme approved

Developer Hill will start work in the Spring on South Tottenham site
13 hours ago

Bid race for £500m Suffolk construction framework

Construction and building services firms called up for East of England four year deal
12 hours ago

Mace employs robot dog to avoid slip and trips in tunnel

Robot working in dark and hazardous conditions under Heathrow Airport
13 hours ago

Administrator details confirmed at Southampton M&E firm

Begbies Traynor now in charge at Working Environments as suppliers face large losses
1 day ago

Former Galliard chief takes helm at Inland Homes

New CEO Don O'Sullivan sets out to return south east house builder to profitability
12 hours ago

Applicant numbers nosedive for construction vacancies

Recruitment market gets even more competitive - how the Enquirer can help
1 day ago

Industry veteran to head Henry Bros northern arm

Peter Commins, former Kier and Balfour Beatty northern chief, to spearhead growth drive
13 hours ago

Housing association shuts in-house modular factories

Swan closes loss-making steel frame and cross-laminate timber factories
1 day ago

350-homes approved around iconic London Tube station

Housing blocks to be built around Grade II-listed Hounslow West Tube station
1 day ago

Domis set for £195m Boddingtons Brewery scheme

Developer Salboy buys Manchester site to kickstart long-awaited 556 homes project
2 days ago

John Lewis £500m funding deal to build 1,000 rental homes

Deal to advance BTR flats at store sites in Bromley, West Ealing and Reading
2 days ago

Esh launches new housing retrofit division

Esh Retrofit Solutions will target market to improve the energy performance of social rented homes
2 days ago

Eric Wright wins tricky £52m Liverpool transformation

Contractor working with engineers at Ridge and Partners on "challenging" Stanley Lock Flight site
4 days ago

Investment giant buys Bristol M&E contractor

RDCP Infrastructure acquires Avon Combined Electrical Services
4 days ago

Demolition start for £50m Farnworth town centre rebuild

Caddick Construction is tipped for main works due to start in the spring
5 days ago

L&G Modular strikes deal to build 1,000 affordable homes

Modular homes business teams up with Hampshire's Vivid housing association
5 days ago

Former Erith operations director joins John F Hunt

Scott Exell named new operations director at demolition specialist John F Hunt
5 days ago

Green light for £135m Leeds twin tower resi scheme

Construction to start in New Year on 500 build-to-rent apartments
5 days ago

Mace hits 1m tonnes carbon saving target for clients

Present work pipeline betters 2026 carbon emission saving target
5 days ago

Plans in for £40m surf park at former Kent colliery

Seahive surf lagoon and health resort will be built near Deal
6 days ago

Crushed demolition worker vows to return to industry

Shannon Brasier hoping to return to construction following horror accident
5 days ago

Mount Anvil to start 900-home North London estate rebuild

Planning approval paves way for Barnsbury Estate rebuild in Islington
5 days ago

Green light for major laboratory campus in Cambridge

Developer BioMed to tender first building on 600,000 sq ft lab complex in the New Year
6 days ago

Belfast firm signs the biggest work deal yet under Project Gigabit

Fibrus to hook-up rural Cumbria to lightning-fast broadband under £108m deal
5 days ago

McLaren wins Leeds logistics park contract

Work to start imminently on warehouse complex for Firethorn Trust
6 days ago

Contractor services