Amazon’s short-term City hub to become 33-storey tower

By James Buckley - Thursday, May 26, 2016 16:07

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Brookfield Property Partners is working up plans to convert e-tailing giant Amazon’s short-term City base into a 400,000 sq ft tower. CoStar News takes a first look at the proposals.

Brookfield, which completed its acquisition of Leadenhall Court from Hammerson in 2013 as part of the REIT’s wider office portfolio sell-off, has submitted a scoping report to City planners outlining plans to build a 33-storey office-led scheme which, at 170m in height, will stand just 10 metres shy of the Gherkin on St Mary Axe.

Amazon leased the entirety of the 94,000 sq ft of office space in Leadenhall Court at 1 Leadenhall Street, EC3, from March 2015 in order to relocate a portion of its staff whilst construction works are completed at nearby Principal Place, where the online retailer signed a deal in September 2014 to lease 431,000 sq ft in what was at that time the largest pre-let deal in the City market since 2010.  

Subject to receiving planning consent, Brookfield can potentially commence construction of the Leadenhall Street scheme from June 2018 when Amazon’s lease expires.

The proposed Leadenhall Court development incorporates the demolition of the existing building and construction of a 398,264 sq ft office block with 30,138 sq ft of retail space on the ground, first and second floors. There will also be a publicly accessible terrace on the second floor.

The building sits on a 0.56-acre site bounded by Leadenhall Street to the north, Whittington Avenue to the east and Gracechurch Street to the west. The Grade II-listed Leadenhall Market abuts the southern boundary of the site.

jbuckley@costar.co.uk

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