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26 PETERBOROUGH COURT & DANIEL HOUSE 133-140 FLEET STREET LONDON EC4 MIDTOWN Midtown is a unique Central London location sat between the defined core West End and City markets. It has traditionally been dominated by the legal and accountancy professions, as well as being an important location for Government offices. Midtown hosts the Royal Courts of Justice (Civil Court), the Old Bailey (Criminal Court) and its four adjacent Inns of Court (Lincoln’s Inn, Inner Temple, Middle Temple and Gray’s Inn). Midtown is therefore at the heart of the UK’s legal/advocacy system. In addition to this, the area plays host to a diverse and eclectic mix of major investment banking firms, large corporates, educational establishments, retail, hotel and leisure occupiers. It is the competition between residential, mixed-use and corporate uses that creates vibrant diversity. Midtown has developed significantly over the last decade with institutional investors investing heavily in existing and newly built development stock. Previous and future successes are listed opposite. LONDON ATTRACTS MORE INWARD INVESTMENT THAN ANY EUROPEAN COUNTRY 1 4 2 5 7 8 9
6 1 | New Street Square Land Securities’ landmark development at New Street Square comprises 685,000 sq ft (63,638 sq m) of office accommodation and 22,000 sq ft (2,043 sq m) of retail accommodation. The scheme was completed in 2007 and has redefined Midtown as a destination in its own right achieving rents as high as £70.00 per sq ft. The Estate has attracted numerous retailers and the offices are anchored by accountancy giant Deloitte. 2 | 110 Fetter Lane 110 Fetter Lane is a new development by Delancey / Invista providing 269,187 sq ft (25,008 sq m) of retail and offices over eight storeys. The property was completed in July 2010 and was pre-let to Her Majesty’s Court Services (HMCS) and US lawyers Weil Gotshal & Manges LLP. The top rents achieved were in the region of £57.50 per sq ft. 3 | Smithfield Market Henderson are working up plans for the part demolition and redevelopment / refurbishment of this historic site to provide c. 350,000 sq ft (32,515 sq m) of office, retail/market and leisure uses. 4 | 40 Holborn Viaduct 40 Holborn Viaduct was developed by Castlemore Securities and designed by 7 2 1 Rolfe Judd. The property was completed in 2008 and is arranged over lower ground, ground and six upper floors. The property was multi-let to Cap Gemini, Gaz de France, Irwin Mitchell and Brewin Dolphin. The top rents achieved were in the region of £52.50 per sq ft. 5 | 60 Ludgate Hill and 30 Old Bailey Land Securities, have recently revised their plans to create two separate buildings totalling 301,000 sq ft (28,000 sq m). The earliest start on site is planned for August 2011 with delivery of the completed buildings in early 2014. 6 | Sheffield Street The London School of Economics (LSE) has been granted planning permission to demolish the existing St Philip’s building on Sheffield Street. The new scheme incorporates a new LSE Students’ Centre and student accommodation comprising seven storeys, two basement levels which include a café, pub and careers library. 7 | Arundel Great Court Arundel Great Court is a 3.3 acre island site bounded by Strand, Arundel Street, Surrey Street and Temple Place. Land Securities has gained consent for a 1.0m sq ft (93,450 sq m) development including 100+ residential units, 4 10 3 8 5 9 a new 5-star hotel, offices, retail and restaurant accommodation. Completion is not anticipated before 2015. 8 | 60 Holborn Viaduct 60 Holborn Viaduct comprises a cleared site and was recently purchased by AXA from Favermead. There is planning permission for a mixed used development comprising 200,000 sq ft (18,580 sq m) of offices and 15,000 sq ft (1,394 sq m) of retail over nine storeys. AXA and Favermead are expected to commence work on this KPF designed development in early 2011. 9 | Blackfriars Station Work at Blackfriars Station is part of the Thameslink Programme, a £5.5bn scheme to improve journeys running north-south through London through more trains, longer platforms and a better link between the railway and the Underground. More than 1,500 people will work to improve the station and track around it. The work will be complete by spring 2012. 10 | Fleet Buildings Goldman Sachs has a further ownership, behind River Court and Peterborough Court, which safeguards their expansion. Fleet Buildings comprises a site which could host up to 500,000 sq ft (46,451 sq m), based on conservative assumptions. 27
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