British Land has come to an agreement with The Kennel Club over the relocation and development of new offices for the Club.
The Real Estate Investment Trust (REIT) has agreed to move the organisation to office space in Mayfair, setting up its new headquarters on Clarges Street.
The firm is looking to carry out major redevelopment in the area which will see the construction of a landmark mixed use scheme. It is due to submit a revised planning application in the near future, with consent expected to be agreed upon later in the year.
British Land head of offices, Tim Roberts, said: “We’re excited by the opportunity to redevelop the Clarges Estate and our agreement with The Kennel Club is an important step in realising our ambitions for this landmark site in Mayfair.
“The acquisition of Clarges demonstrates British Land’s ability to identify opportunities, deliver solutions and create value. We have agreed terms with The Kennel Club, as anticipated at the time of purchase, which enable us to redesign the scheme while also providing new modern premises for the club.
“This will enhance our central London development programme and strengthen further our presence in the West End.”
British Land has more than 2.2 million sq ft of central London offices and residential property among a portfolio which includes plans for a 700,000 sq ft building for UBS at 5 Broadgate and The Leadenhall Building, a 610,000 sq ft tower in the capital’s main insurance district.
In total it has assets owned or managed worth more than Â£16.3bn.
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