Exchequer Partnership has secured £140m of funding for a private finance initiative to refurbish and redevelop over 92,900 sq m (1m sq ft) at HM Treasury in Great George Street, London, SW1.
The consortium, comprising Bovis Lend Lease Holdings, Stanhope and Chesterton, will now push forward with plans to revamp the listed government offices.
Securing the finance completes the last condition of the project agreement signed between HM Treasury and Exchequer Partnership last summer.
The building’s refurbishment and redevelopment will be carried out in two phases. Work on the 46,500 sq m (500,538 sq ft) first phase, which will be occupied by the Treasury, is due for completion by August 2002. The second phase, of around the same size, will start when an occupier has been confirmed.
The building also houses the Cabinet War Rooms Museum, which will also benefit from more space.
EGi News 10/05/00
