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Wed January 26 2022

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Lendlease strikes deal for £1.5bn Stratford office venture

4 Jan Lendlease has formed a 50:50 joint venture with Canada Pension Plan Investment Board (CPP Investments) to develop office buildings in east London.

The £215m Turing Building is set to be the first to be built at IQL Stratford by Lendlease and CPP
The £215m Turing Building is set to be the first to be built at IQL Stratford by Lendlease and CPP

Lendlease and CPP aspire to develop a new office-led neighbourhood at International Quarter London (IQL), alongside the Queen Elizabeth Olympic Park in Stratford.

The two companies have initially committed to developing the Turing Building, allocating £215m from the joint venture. The Turing Building is one of four office buildings planned for IQL, which are together expected to provide a total development area of 1.6m square feet when complete, with an estimated gross development value of approximately £1.5bn.

The IQL partnership builds on Lendlease and CPP Investments’ existing joint ventures at Elephant Park in London, Barangaroo in Sydney, Australia and the Milano Innovation District in Italy.

Construction on the Turing Building, which has been designed by architects Arney Fender Katsalidis, is expected to begin in early 2022. Once complete, it will provide 350,000 square feet of workspace, retail space and a cinema.

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