British Land (BL) has confirmed the prelet of 51 Lime Street, London EC3, to global insurance broker Willis Group.
The 420,000 sq ft (39,018 sq m) development, which is expected to be completed by the end of 2008, is directly opposite the Lloyds Underwriting centre.
BL has not disclosed either the size or the terms of the deal, but City agents speculate that the rent could be around £46 per sq ft with up to three years rent-free on a 25-year lease with breaks.
There are no take-backs of existing Willis buildings involved.
BL will undertake the development in association with Stanhope and a new planning application, which supersedes the existing consent, has now been submitted.
Foster & Partners designed the 24-storey building.
References: EGi News 23/11/04
