A residential developer is being sought to trigger a long-awaited 1.1m sq ft development in the Whitechapel area of the City.
Royal Bank of Scotland, which has been drawing up plans for a 10 acre site it owns at Goodman Fields, E1, wants to kick-start the scheme with a residential phase.
The bank favours appointing a residential developer for the 200,000 sq ft first phase and has appointed Insignia Blenheim Bishop to advise.
Sources said RBS hoped to have a joint venture residential developer for the £100m scheme on board by the end of the year.
The site, which was given outline planning consent by Tower Hamlets last year for 500,000 sq ft of housing and 600,000 sq ft of offices, is presently the home of the bank’s City of London cheque-clearing centre.
