British Land is looking to add 1.2m sq ft to its 4m sq ft Broadgate Estate in the City of London by enlarging most of the 16 blocks that have been constructed on the 30 acre site since the mid-1980s.
The UK’s second largest property company revealed yesterday that it had begun a masterplanning exercise to boost the floor areas by nearly 30% to a group of city analysts and investors.
British Land has identified five buildings in a “Broadgate 2020” project that have the highest potential for development when the leases start to expire in 2011.
These are 100 Liverpool Street, 3 Finsbury Avenue, 4 and 8-12 Broadgate, and Broadwalk House.
Another eleven with “moderate” potential for enlargement are also being examined.
Tim Roberts, who is co-head of asset management at British Land, said: “We have the potential to make the blocks two to three times bigger than they are now.
“We don’t think the plans will be controversial.”
References: EGi News 10/10/06
