Partners Group and Marick Real Estate have announced a joint 245,000 sq. ft London office space project at 80 Fenchurch Street in the City of London. The 14 story, 9 building project has an estimated completion of 2018.
The building project will begin with the demolishing of the current vacant building at 80 Fenchurch Street at the end of June, before construction is set to begin in early 2016.
The scheme received a total £200m investment, and was designed by architects TP Bennett. The office project will incorporate 9 different buildings with tiered roof gardens, grouped together to form a stepped block design.
Partners Group, Vice President, Stuart Keith, Said, “The recent rebound in the UK economy has created a significant supply-demand imbalance in the City of London in terms of Grade A office space, with vacancy levels close to historic lows and rents steadily climbing. 80 Fenchurch will be perfectly placed in terms of location, timing and quality of build to capitalise on this attractive market opportunity.”
With the venture supplying 9 separate buildings and a significant amount of real estate in a market where the demand is continuously growing, it is anticipated that tenants will be signed up fairly quickly once construction has started.
By: Kirsty MacGregor
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