Landsec to start three London schemes this year

Aaron Morby 3 years ago
Share

Developer Landsec is planning to start three major London schemes this year as it expands its development pipeline to 3.6m sq ft.

Work to start on £250m Piccadilly Lights development next month
Work to start on £250m Piccadilly Lights development next month

The developer said it remained confident about prospects in the Capital, where it now plans to focus all future development activity.

Landsec chief executive Robert Noel said: “We have added to our pipeline of development opportunities, with £3bn of schemes in London now on site, being prepared or in feasibility.

“With low levels of Grade A vacancy in London and occupiers increasingly looking to pre-let, we will be starting 0.5m sq ft of speculative development this year.”

Announcing a year of revenue profit growth, Noel said Landsec was making good progress with the construction of its Deutsche Bank HQ building at 21 Moorfields in the City.

“In partnership with our suppliers, we’ve introduced innovations across design and construction to enhance the speed, efficiency, quality and environmental performance at 21 Moorfields and are applying what we learn to other schemes.”

Three other major schemes will now go-ahead this year as the developer ramps up activity.

Demolition started last month at One Sherwood Street – a 144,000 sq ft mixed use scheme behind the famous Piccadilly Lights. 

This will comprise offices, shops and a roof-top restaurant and will be completed by June 2022.

At its Nova East site in Victoria, contractor blu-3 (UK) has started enabling works and piling is expected to start in July.

Planned Nova East building at Nova Place in Victoria

Landsec is simplifying the design and structure and increasing the consented floor area by 19%.

In Southwark at 105 Sumner Street, the developer has consent for two buildings totalling 131,000 sq ft and will start on site in October with completion in early 2022.

Sumner Street scheme on Southwark Bridge Road,

Planning applications are also now being prepared for four other schemes: Portland House; Red Lion Court; Finchley Road; and Shepherd’s Bush.

At Portland House, SW1, Landsec has dropped plans for a complete redevelopment in favour of a 401,000 sq ft remodelling and extension of the existing building.

Portland House in Westminster

A planning application will be lodged in June, aiming to start on site in April next year, when the current leases expire.

At Red Lion Court on the south bank of the River Thames in SE1, Landsec is working up plans for 324,000 sq ft of offices and new public riverside space.

Existing Red Lion Court building will be demolished

During the year Landsec also acquired a 1.6-acre site at 25 Lavington Street, SE1.

Outside central London, the developer has concluded feasibility studies for residential-focused, mixed-use developments at Shepherds Bush, W12 and Finchley Road, NW3.

These will comprise around 1,700 new homes, many of which will be retained as homes for rent. Planning applications will be submitted during the course of this year.

In Lewisham, Landsec has started master planning eight acres of land for a new residential-led, mixed-use destination.

Noel added: “We are clear on what we have to do in the year ahead and beyond.

“Our targets focus on developments in London – both on-site and in the pipeline – together with further innovation in construction and active evolution of the products and services we offer and continued leadership on social and environmental sustainability.”

  • In the year to March, Landsec reported a pre-tax loss of £123m, compared with a £43m loss in the prior year, due to a bigger fall in the value of retail assets. But revenue profit increased by £36m to £442m.

Latest news

Self-employed labour rates hit record high

Average weekly pay tops £1,000 in London, the South East and East of England.
1 day ago

Network Rail chief takes finance reins at Skanska

Meliha Duymaz is new Chief Financial Officer
1 day ago

Construction Manager of the Year crowned

Kier's Joe O’Connell lands top prize. Full list of winners
2 days ago

Hochtief starts pulling down Welsh pylons

Construction starts on National Grid project
1 day ago

Kier wins London life sciences job

Contractor lands innovative landmark lab development at ARC West London
1 day ago

Social housing bidding opens for £1.5bn energy retrofit cash

First upgrades of social housing stock could start from early next year
2 days ago

Construction arm propels Mace to record profit

Revenue expected to top £2bn this year despite project delays
3 days ago

Fire destroys conveyor belt at Silvertown Tunnel site

Forty firefighters battle blaze at huge London site
3 days ago

Plan for £58m Bristol pharma R&D facility approved

Willmott Dixon in line to build the R&D facility at Bristol & Bath Science Park
2 days ago

Bond Street Elizabeth line station to open next month

Final station on delayed line will welcome passengers in October
2 days ago

Sisk fixes price on £227m Quintain flats job

Quintain signs single-largest contract so far at Wembley Park
3 days ago

Green light for St Helens town centre revamp

English Cities Fund to start phase 1 next April
2 days ago

Rising costs tip William Hare to £3.6m loss

Specialist contractor falls into the red despite near 60% revenue rise to £220m
4 days ago

Safety blitz on “aches, pains and strains” on site

1,000 site visits planned in coming months to check how workers are moving heavy or bulky materials
4 days ago

Drones sent flying underground to check sewers

Traditional inspection teams replaced with latest technology
3 days ago

Plan submitted for 470 Preston flats scheme

Stoneygate Central scheme on Dryden Mill site will rise to 16 storeys
3 days ago

Graham starts £124m M25 Junction 28

Work on the 36-month Junction 28 upgrade includes constructing a major two-lane loop road
3 days ago

Keltbray bags brace of energy infrastructure wins

Civils work on huge converter stations worth £30m to specialist
4 days ago

Balfour Beatty sole winner for £4bn Scape civils deals

Contractor reappointed to England, Wales and Northern Ireland and separate Scottish deals
4 days ago

PR expert Baroness Rock to chair Costain

Kate Rock will take up senior board role at the end of the year
4 days ago

Billington profit upgrade after strong first-half

Steelwork contractor says weaker pound will allow it to reignite its old export markets in Europe
4 days ago

Green light for £120m Liverpool “super restaurant”

Historic Pumphouse at Stanley Dock to be transformed
5 days ago

Tolent bags £15m Sunderland skills academy

Work to start later this year on Housing Innovation and Construction Skills Academy
4 days ago

Government launches net zero review

Pro-growth and pro-business review of net zero 2050 target launches
5 days ago

L&G Modular wins 400-home Wolverhampton job

Modular specialist wins 17-acre Canalside South regeneration scheme
5 days ago

£1.2bn A12 upgrade accepted for planning

15-mile Essex road upgrade between Chelmsford and Colchester aims for 2023/24 start
5 days ago

US consultant trumps WSP bid for RPS Group

Tetra Tech swoops but WSP could come back with new offer if bidding war breaks out
5 days ago

Sisk hands staff £900 cost of living cash boost

Firm also promises staff £400 Christmas voucher in November
5 days ago

Loathed IR35 reforms scrapped by Chancellor

Contractors will no longer have to determine tax status of freelance workers
1 week ago

Higgins signs deal for 740 West London homes

Work to start this autumn on two Hayes housing estate rebuilds
5 days ago

Contractor services