Lend Lease and Quintain have launched a major new business district at London’s Greenwich Peninsula with the announcement of a deal with Transport for London.
The agreement will see Transport for London take a 20 year lease on 135,000 sq ft of space in the new Peninsula Central business district, overlooking The O2 and just one stop from Canary Wharf. Work will start on the Terry Farrell & Partners-designed office before the end of the year, with Transport for London taking occupation in 2009.
Transport for London will also secure an option on a further 60,000 sq ft of space at Peninsula Central as part of the deal.
Peninsula Central is a 3.5 million sq ft business district at the heart of the Greenwich Peninsula redevelopment and will sit alongside 10,000 new homes, 150 new shops and restaurants and 48 acres of open green space - all just 20 minutes from the West End.
The site of the new Transport for London office, which will also include a second 110,000 square foot building for commercial and retail lettings, will be developed by Lend Lease and Quintain.
Nigel Hugill, chairman of Lend Lease Europe, said:
“This new commercial district marks another exciting evolution in the London workplace. Peninsula Central occupies a strategic position, offering new and flexible space close to Canary Wharf and within a stone’s throw of the City and West End. We are delighted that Transport for London has recognised its potential and are confident that other high-profile tenants will follow.”
Nick Shattock, deputy chief executive of Quintain, said:
“To have launched a new major commercial centre for London with such a significant letting to a regulatory authority, with the potential for several satellite businesses, is a remarkable coup. We are convinced that our ambition and willingness to deliver the Mayor’s climate change policy with cutting edge technology was key to this major re-location.”
Charles Stafford, Transport for London Director of Group Property and Facilities, said:
"Transport for London is delighted to be one of the first tenants in this significant regenerative development. This move is a key part of our business strategy to improve the overall quality and productivity of the workspace we provide for our staff, yet also achieve significant efficiencies, in this case obtaining top quality office accommodation at an excellent location, giving us true value for money."
John Walker, Chief Executive of English Partnerships, said:
"As the principal land owner we are pleased to see the mix of development on the Greenwich Peninsula extending beyond housing. Transport for London will be providing a significant number of jobs, and the balance of the letting will help secure a true mixed use development."
International property consultancy Jones Lang LaSalle is the appointed adviser on office space at Greenwich Peninsula. TfL is advised by Drivers Jonas.
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Notes to Editors
About Greenwich Peninsula
The £5 billion regeneration of 190 acres of Greenwich Peninsula led by Lend Lease and Quintain Estates and Development PLC working with English Partnerships, will create a thriving new riverside community for London over the next 15 years.
- 10,000 new homes in distinct residential neighbourhoods
- 24,000 permanent jobs
- Peninsula Central - a new business district for London
- 150 new shops and restaurants
- 1.6 miles of river frontage; the distance between Waterloo and London Bridge
- 48 acres of open spaces and parks; the size of Green Park
- Extensive new community and leisure facilities
- The O2 entertainment destination delivered and operated by AEG Europe
- Excellent transport links, situated in zone 2 on the jubilee line
- Aspiration for the highest environmental standards for new buildings.
About Lend Lease
Lend Lease, listed on the Australian Stock Exchange, is a leading real estate specialist which creates and manages real estates assets around the world. In the UK its business is focussed primarily in the delivery of large scale mixed use schemes which lead to the regeneration of major urban sites.
www.lendlease.com
About Quintain Estates and Development PLC
Quintain is a leading property investment and development company specialising in strategic property acquisition, redevelopment, asset management and regeneration across the UK. Quintain operates through three businesses - fund management, property investment and urban regeneration.
Quintain is listed on the London Stock Exchange and is a FTSE 250 company.
www.quintain-estates.com
About English Partnerships
English Partnerships is the Government’s national regeneration agency. Its aim is to deliver high quality, sustainable growth in England. The Agency is overseeing the regeneration of Greenwich Peninsula and has invested over £225 million in the last ten years.
English Partnerships and the Housing Corporation are working with the Department for Communities and Local Government to establish the proposed Homes and Communities Agency.
www.englishpartnerships.co.uk