Aviva Investors has entered into a development agreement with Transport for London to build a new circa 175,000 sq ft mixed-use retail and office building at 1 Liverpool Street.
The building is located at the Liverpool Street Elizabeth Line eastern station entrance, opposite the scheme designed by Eric Parry, and is proposed to be 11 storeys high.
Aviva is also developing another office and retail scheme at 101 Moorgate, which will sit above the Moorgate Crossrail shaft and will form part of the new Liverpool Street station’s Moorgate entrance.
It follows the award in May of the last development site over Tottenham Court Road’s Crossrail and underground station to Galliard, for which bids of more than £40m were made, and the acquisition of two 150-year long leases, which were worth a combined £75.4m, in October last year by the JV partnership of Great Portland Estates and the Hong Kong Monetary Authority from TfL for the over-station development at the Elizabeth Line’s eastern entrance to Bond Street station.
TfL said in March last year that it was aiming to raise around £500m from a series of the development sites created around the Crossrail stations.
James Stevens, head of development, global real estate, at Aviva Investors, said: “This is undoubtably one of the best development sites in the City of London and we are excited to continue our partnership with TfL. This transaction marks another significant step in repositioning the Aviva Investors Real Estate portfolio for growth and is set to benefit from a rapidly evolving City of London.”
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