Aon has agreed to prelet 191,000 sq ft at British Land’s and Oxford Properties’ Cheesegrater, EC3.
As revealed by Estates Gazette, Aon selected the City tower on Leadenhall Street as its preferred option from a shortlist of three buildings.
In an announcement this morning, British Land said that its 50:50 joint venture with Oxford had agreed non-binding heads of terms with insurer Aon to prelet the lower 10 floors of the 610,000 sq ft development, with an option to take up to a further 85,000 sq ft on levels 14-18.
Construction of the 736ft tower started in January, with practical completion scheduled for mid-2014.
Paul Brundage, executive vice-president, senior managing director for Europe at Oxford Properties, said: “This deal confirms our original investment decision in The Leadenhall Building and is testament to the strength of our joint venture with British Land, the timing of the building’s delivery and broader global relationship with Aon.”
Aon chief executive Robert Brown said: “Such a significant investment confirms Aon Corp’s commitment to the UK, and indeed London, as a strategically important and integral part of Aon’s future.”
james.buckley@estatesgazette.com
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