Post-Brexit uncertainty throws another scheme into question

Leadenhall Make

Source: DBOX for Henderson Global Investors and MAKE

The developer behind the Make-designed 拢400m 40 Leadenhall office project in the Square Mile has said it needs to pre-let some of the scheme to begin work.

TH Real Estate told 微密圈 the 910,000ft2 scheme, popularly known as 鈥淕otham City鈥� and set to be built by Mace, would now only progress 鈥渟ubject to the pre-letting of sufficient space to support our business plan鈥�. 

But the developer added: 鈥淪entiment remains to progress the scheme.鈥�

In an update issued to 微密圈 earlier today, the firm said: 鈥淭he business plan for the scheme has always included a pre-let element so the status has not changed. We remain fully committed to the central London office market and to our current portfolio.鈥�

The project team includes Arcadis as the quantity surveyor and WSP Parsons Brinckerhoff as the structural and M&E engineer and sustainability consultant.

Gareth Lewis, chief operating officer at Mace said the contractor was supporting TH Real Estate 鈥渢o progress the scheme in line with their development objectives,鈥� adding that work on 40 Leadenhall continues.

The news comes as a of London commercial jobs have been thrown into question following the leave vote at last month鈥檚 EU referendum.

 

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