Confidence continues to grow in International Quarter London London (previously known as The International Quarter)– the £2.3 billion commercial development at Stratford - with Lendlease and LCR recently announcing the forward sale of commercial space to Legal & General and to Deutsche Bank’s asset management arm, the Financial Conduct Authority (FCA).
Legal & General have acquired 265,000 square feet of commercial space and will make staged payments over the course of the development period up to a total consideration of circa £245 million.
The Financial Conduct Authority (FCA) acquired Plot S5 on behalf of one of its German funds, committing to 515,000 sq ft of commercial space and will make staged payments of more than £370 million over the course of the development period. The FCA building is in the early stages of construction and is anticipated to house around 3,800 FCA employees from 2018. The building will comprise 19 floors of Grade-A office space and ground-floor retail, designed with the intention of obtaining a BREEAM “Excellent” certificate.
The FCA office will sit in a prominent position at the gateway to Queen Elizabeth Olympic Park, alongside the Transport for London (TfL) building, also in the early stages of construction, which will house 3,000 TfL employees from autumn 2017. Ramboll is providing multidisciplinary services for the TfL building following their appointment by Lendlease and London & Continental Railways (LCR).Lendlease and LCR will continue to manage the delivery of the buildings through the Stratford City Business District Ltd joint venture