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Sat October 20 2018

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21 Feb Developer Landsec has secured a resolution to grant a revised planning permission for its proposed £550m office development at 21 Moorfields in London EC2.

21 Moorfields is designed by Wilkinson Eyre
21 Moorfields is designed by Wilkinson Eyre

21 Moorfields is to be the new London headquarters of Deutsche Bank. It is a 17-storey building that will bridge 55 metres over Moorgate underground station and a Crossrail ticket hall. The development, designed by architect Wilkinson Eyre, covers approximately 64,143m². Mace is the principal contractor.

The site was last developed in the early 1970s and has remained largely vacant since Lazards vacated in 2003. Landsec acquired the site in January 2015 and in November that year obtained planning consent for a mixed retail and office redevelopment of the site across two buildings of up to 16 storeys.

Plans had to be amended after Deutsche Bank approach Landsec to take the site. The long spans that spread the load of the building over the station make it well suited to a bank’s requirements.

Since the original planning consent was granted, work has started on site. Construction of the substructure is due to complete in March 2019. Landsec now expects that construction will continue straight through, with practical completion expected in November 2021. Deutsche Bank will then start its fit-out work.

Colette O'Shea, managing director of Landsec’s London Portfolio, said: "We welcome the resolution to grant planning permission and look forward to continuing to work in partnership with Deutsche Bank and the City of London Corporation to deliver this strategically important site."

City of London Corporation planning and transportation committee chairman Chris Hayward said: "We are delighted to have unanimously approved the scheme for the new Deutsche Bank headquarters at 21 Moorfields. With the Elizabeth line supporting the creation of an estimated 63,000 jobs in the City of London and Isle of Dogs, this office, located above a future station, fits in well with the City's ambitions for growth. Deutsche Bank's move demonstrates a high level of confidence in the City of London as a leader in financial and professional services. The City Corporation remains committed to supporting businesses with an additional 1.37 million square metres of office space under construction that has the potential to accommodate 85,000 workers."

MPU

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