MEPC is paying £75m for a development site which could accommodate one of the largest new buildings in the City of London.
It has purchased Woolgate House, the London headquarters of US bank Chase Manhattan. Next year, the bank is moving to another MEPC development, 125 London Wall.
MEPC says the Woolgate site could accommodate a new building of up to 32,515 sq m (350,000 sq ft). The cost of redevelopment is put at around £180m. A planning application to the Corporation of London is likely to be submitted before the end of the year.
- Financial Times 30/10/96 page 24
