Metronet, the consortium bidding for the London Underground PPP contracts, is lining up space at Blackfriars Investments’ Westec House in Hanger Lane, W5.
The consortium of Thames Water, Seeboard, Balfour Beatty, WS Atkins and Bombardier Transport requires one 130,000 sq ft building in the area or two buildings of 70,000 sq ft each.
Metronet was set to sign its contract for two-thirds of the Tube network on 8 March, but this has been delayed. Both it and fellow bidder Tubelines demanded an extension until 22 March to consult on the fine print of the contracts. This is thought to have delayed Metronet’s decision on the space.
Insignia Richard Ellis is acting for Blackfriars, and Lambert Smith Hampton, a subsidiary of consortium member WS Atkins, is advising Metronet.
Blackfriars director Gary Blatt said Metronet “had viewed the building, along with other parties, but no terms had been agreed”. Market sources suggested that the deal was likely to be signed imminently.
Blackfriars launched Westec last June after refurbishing the 160,000 sq ft (14,864m2) building. Most of the building is vacant.
