Brookfield Office Properties is working up plans for a potential skyscraper development at the gateway to the City insurance district.
The North American investor has appointed Ken Shuttleworth’s Make Architects to examine options for a new tower development at Leadenhall Court, EC3, the former home of insurer RSA.
Brookfield bought the 109,000 sq ft block on the corner of Leadenhall Street and Gracechurch Street from Hammerson as part of a £518m portfolio of City offices and development sites.
RSA vacated Leadenhall Court this summer in favour of the Walkie Talkie, EC3, and Brookfield has now let the building on a short-term lease to Amazon.
The online retailer plans to occupy the building until construction is complete at Brookfield’s Principal Place, EC2, where it has agreed a lease for 430,000 sq ft and has options for further expansion.
Principal Place is expected to complete in 2017.
Martin Jepson, president and chief operating officer of Brookfield’s European Office Division said the height of any redevelopment at Leadenhall Court would be influenced by the emerging plans for other nearby tower schemes such as Mitsubishi’s 6-8 Bishopsgate, EC3, which is expected to be submitted to the City Corporation shortly.
Given its location on the edge of the tall building zone, he predicted it would taper down from other towers such as WR Berkley’s 620 ft Scalpel development.
“Economically it is not really viable to do unless you more than double the size of the site as it is,” he added.
jack.sidders@estatesgazette.com
