A rare development site in central London has attracted around 10 bids from some of the biggest names in real estate.
Great Portland Estates, Helical, Landsec and Nuveen have all been linked to a potential £40m sale of the 60 Aldgate plot on the 500,000 sq ft Minories Estate scheme, EC3, owned by 4C Hotels and Transport for London.
The site, close to Aldgate Underground station, has planning permission for a 14-storey, 215,000 sq ft office building. The other two buildings in the estate are the existing 16 Minories, which is being converted into a Canopy by Hilton Hotel and a 15-storey residential building to provide 87 homes. The entire scheme has a gross development value of £300m.
It is wedged between the City’s eastern cluster of towers to the west, Whitechapel to the east, the Tower of London to the south and Spitalfields to the north.
Last year the area attracted BT, which confirmed it would be relocating its current London headquarters from 81 Newgate Street, EC1, to Aldgate Developments’ office scheme One Braham, E1.
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
