• TfL takes further 61,000 sq ft in first phase of commercial district at Greenwich Peninsula
• 0The organisation will occupy almost 200,000 sq ft of space in the new Peninsula Central business district
• Building to be completed this summer, bringing 1,800 workers to the Peninsula

Transport for London (“TfL”) has today confirmed that it has exercised an option to lease an additional two floors of the first commercial building at Greenwich Peninsula, comprising 61,000 sq ft.  TfL initially committed to take 135,000 sq ft of space in the first phase of Peninsula Central and have now increased this to 196,000 sq ft, comprising the whole of the first building to go on site.

The building, designed by Terry Farrell and Partners, includes 13,100 sq ft of retail space and will complete in summer 2009. 1,800 TfL employees will move to the building on Peninsula Square, next to Ravensbourne College and The O2.  The building combines energy efficiency and high design standards and is located in a highly sustainable area.  It will achieve a BREEAM Excellent rating.

When complete, Peninsula Central will be a 3.5 million sq ft business district at the heart of the Greenwich Peninsula scheme sitting alongside 10,000 new homes, 350,000 sq ft of retail, food and drink outlets, 48 acres of open green space and 1.6 miles of riverside - all just 20 minutes from the West End. Over £180m of construction work is currently being undertaken on the site, which is being developed by Lend Lease and Quintain.

The first phase of the commercial district includes a second 115,000 sq ft building for commercial and retail lettings which will complete at the end of 2009.

Charles Stafford, Transport for London Director of Group Property & Facilities said:

“The move to Greenwich is part of the drive to save up to £100m from our office accommodation strategy over the next 25 years. We are consolidating to three principle locations – Palestra, Greenwich Peninsula and the Shard - significantly reducing operating costs and providing a greener working environment in locations that are well served by transport links”.

“This is part of an overall £2.4bn in efficiency savings across TfL that will contribute funding towards TfL’s major Investment Programme projects including the upgrade of the Tube, expanding London Overground and building Crossrail”.

Nick Shattock, deputy chief executive of Quintain, said:

“The exercising of this option at Greenwich Peninsula is testament to the excellent location next to Canary Wharf, the quality of the building’s design and the standard of environmental performance we are achieving here. As Peninsula Central takes shape it is attracting increasing attention from businesses who want a great location and true value for money."

Phil Dibsdale, Area Director for South London Gateway at the Homes and Communities Agency, the national regeneration agency and landowner at Greenwich Peninsula, said:

“We are delighted that from next summer we will have thousands of new people visiting the area every day. Despite the challenging times, momentum at Greenwich Peninsula continues, with £180 million of construction work underway, significant milestones being achieved in the commercial district and the delivery of the Ravensbourne College. The vision for this area is being realised.”

ENDS

for further information about the Greenwich Peninsula, contact

 Kate Fisher, London Communications Agency, 020 7612 8480 or 07977 141216 kf@londoncommunications.co.uk

For further information about TfL, contact

Thomas Canning, TfL, 020 7126 4112

thomascanning@tfl.gov.uk

Greenwich Peninsula

The £5 billion regeneration of 190 acres of Greenwich Peninsula led by Lend Lease and Quintain Estates and Development PLC working in collaboration with English Partnerships, the national regeneration agency – a true public private partnership.  The scheme 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

Transport for London

TfL was created in 2000 from 15 separate organisations based in 50 buildings across central London. 

www.tfl.gov.uk

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

Quintain Estates and Development plc

Quintain creates value from property, operating through three businesses: fund management, property investment and urban regeneration. Quintain is listed on the London Stock Exchange.

www.quintain.co.uk

The Homes and Communities Agency

The HCA is the single, national housing and regeneration agency for England. 

 Our role is to create opportunity for people to live in high quality, sustainable places. We provide funding for affordable housing, bring land back into productive use and improve quality of life by raising standards for the physical and social environment.