Phase 2 of Aldgate Place will be a 136,000 sq ft residential led, mixed use scheme located on the City fringe containing 159 premium Build to Rent apartments, 19,000 sq ft of office space and 8,000 sq ft of retail and leisure space.
McLaren Construction is lined-up for the £72m main construction contract on the site where works will start in the third quarter of this year.
Simon Carter, CEO, British Land said: “We are excited to commit to Phase 2 at Aldgate Place, our first Build to Rent development which will be an exceptional building in a thriving part of the City.
“This is another example of us executing against our strategy, exploiting our competitive strengths in development to deliver high quality space with a range of uses in excellent locations.”
Phase 1 of the scheme was completed in 2017 and comprised 304 apartments and a 160 bedroom hotel.
Original plans for phase 2 were shelved back in 2018 by Barratt London when it was working in joint venture with British Land who now own the site outright.