British Rail Property Board have announced a shortlist of seven to develop the space over Cannon Street Station, EC4. They are Rosehaugh Stanhope — already advanced on the Broadgate Project at Liverpool Street; Trafalgar House; MEPC; the Lysander Group with Eagle Star; Greycoat — already developing Victoria Station and with plans for Charing Cross; Speyhawk; and London & Metropolitan with Waterglade.
The developers have been issued with a planning brief drawn up by BRPB’s consultants, Matthews & Goodman, and have until June 9 to submit their plans and financial offers. Bernard Skinner of M&G commented: “Without committing the planners and developers, we expect the area of the proposed scheme, which is predominantly for office use, to be in the region of 500,000 sq ft.” The City Corporation has already given guidelines that any development must be in compliance with the St Paul’s height restrictions.
BRPB are offering the successful developer a 250-year lease on the site, which is bounded by Cousins Lane, Upper Thames Street, Allhallows Lane and the north bank of the Thames. They are seeking two obligatory financial offers, one on the basis of ground rent and the other in terms of a capital premium and a peppercorn rent.
