Henderson launches 1m sq ft Leadenhall Triangle plans

By James Buckley - Tuesday, September 17, 2013 7:00

Henderson Global Investors will today unveil plans to build nearly 1m sq ft on the Leadenhall Triangle site in the heart of the City’s insurance district.

The fund manager will reveal long-awaited Make-designed plans for a 910,000 sq ft stepped development at 40 Leadenhall Street, EC3 – the western end of the site - meaning the remainder of the plot could be subject to further redevelopment plans in future.

The scheme, which will cost £391m to develop, will vary in height between seven and 34 office storeys, with two additional basement levels, and a roof level plant. The development will rise to 558ft at its highest point and include flexible retail/café and restaurant uses at ground floor level. 

The scheme will comprise a net internal area of 910,000 sq ft, split between 890,000 sq ft of offices and 20,000 sq ft of retail.

The development is likely to attract the interest of financial services firms with floorplates ranging from circa 19,000 sq ft, up to 45,000 sq ft.

Henderson Global Investors completed its purchase of the Leadenhall Triangle site for around £183m in June 2011, and has since been working on various redevelopment options.

The Leadenhall Triangle comprises 52-56 LeadenhallStreet, 49 Leadenhall Street, 22 Billiter Street, 109-114 Fenchurch Street, 100 Fenchurch Street and 9-13 Fenchurch Buildings.

The site's previous owner, Investream, had worked up ambitious proposals to build a 1.25m sq ft campus before it was placed into administration two years ago.

The new scheme will sit in the heart of the Square Mile’s insurance district and within the eastern cluster of tall buildings. As part of the plans, the grade II listed building at 19-21 Billiter Street, built in 1865, will be restored and integrated in the proposed scheme, which will have around 7,000 people working in it once completed and fully let. 

The scheme will be formed of vertical slices arranged around the listed building. The tallest part of the development is positioned at the northern end of the site to take account of neighbouring tall buildings and steps down in height toward the River Thames and Tower of London to the south. The proposed new building is also terraced at high level on the northern side of Leadenhall Street.

Ground floor entrance and retail frontages are set back to create pedestrian zones, wider pavements and spaces along key pedestrian routes on adjacent Leadenhall Street, Fenchurch Street, Billiter Street and Fenchurch Buildings.

The plans will be presented to the public at an exhibition later today (12-7pm at St Katherine Cree Church, 86 Leadenhall Street, EC3) following pre-application consultation with the major statutory bodies and stakeholders. 

Nick Deacon, Director of Property, Central London Offices, Henderson Global Investors, said: “Henderson's plans for a new high quality office building on Leadenhall Street will be a fantastic addition to London's dynamic insurance district. It will sit within the City's eastern cluster of tall buildings and it has been designed as a series of vertical elements to complement the other taller and adjacent buildings in the heart of the City. 

“It represents Henderson's continuing commitment to the City of London with improved public realm and pedestrian routes and the highest standards of sustainability and environmental performance.” 

Geoff Harris, Director of Property Development, Henderson Global Investors, said: “We are proposing a scheme which will fit in with the rich urban character of streets and spaces of EC3 with tall towers and lower rise blocks, primary thoroughfares, hidden alleyways and discreet public spaces.  Make has designed a great building in a location which can accommodate a tall building but which varies in height from 7 to 34 stories to respect local and strategic views. 

“It is also highly sustainable given the environmental measures that have been adopted and great local transport links. The building is also a vote of confidence in the City of London and a major boost to investment, growth and employment in the economy.”

Paul Scott of Make, said: “At the heart of the City’s insurance district, the shifting vertical planes of our scheme rise to complement the cluster of tall buildings on the skyline and sensitively terrace down in southern views from and across the River Thames. An exemplar of environmentally progressive design, the building will reduce carbon emissions by over 40% compared to current regulations and lead the next generation of city centre office buildings.”

jbuckley@costar.co.uk

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