The Weekly Wrap
3rd Floor let at 65 Fenchurch Street!
We are delighted to announce that the
3rd floor offices at 65 Fenchurch Street, EC3 have been let to iBASIS!
The building has been comprehensively
refurbished to a contemporary specification, featuring exposed services and a
remodelled entrance hall.
Two further floors remain available;
the 5th floor (1,212 sq ft) & 4th floor (1,256 sq ft) and both contain
pre-enabled fibre and new kitchenettes.
For more information please contact
Ali Porter (0207 456 707) or Jon Beilin (0207 456 0727)
Newton Perkins are pleased to bring
the first floor (comprising 2,640 sq ft) at 35 Great St Helen’s, EC3 to the
market. The building overlooks an attractive square between Bishopsgate and St
Mary Axe and is well located for the insurance and financial markets.
The offices provide high quality
fitted out accommodation, including 2 meeting rooms, a private office, a
kitchenette and open plan desking.
For more information please contact
Jack Wells (0207 456 0729) or Jon Beilin (0207 456 0727).
Petrol and diesel cars to be banned
in Barbican tunnel
The City of London will bring in the
UK’s first full-time ban on all petrol and diesel cars from early next year, as
part of an ambitious plan to eliminate toxic air pollution in the financial
centre by 2030.
The restriction will initially only
apply to Beech Street, which runs through a tunnel under the Barbican Estate,
and would impose a £130 fine on all combustion engine cars, with the exception
of some hybrids, each time they entered the area.
Exceptions will apply to emergency
vehicles, garbage disposal and logistics vans that are expected to enter into
service by the end of March 2020, awaiting final approval from Transport for
The 24/7 ban is part of a plan to
clean up the city's environment and help adhere to the standards of the World
Health Organization’s measures for unlawfully high levels of nitrogen dioxide
released by diesel vehicles.
The "groundbreaking" ban
will provide "substantial health benefits to those living and working in
the Barbican district, as well as helping to reduce noise pollution," said
Oliver Sells, chairman of the streets and walkways subcommittee of the City of
But the City of London admits that,
although air quality in the immediate area of Beech Street is expected to
improve, it will shift traffic and pollution to roads nearby.
The trial period will last for up to
18 months after which the City of London Council must determine whether to make
the change effective permanently or to enact further steps. It is planning to
create two smaller zero pollution areas near the Bank of England by 2022 in
Barbican and around Leadenhall Street.
As part of its campaign to reduce air
pollution, the City of London Corporation, which governs the area around the
capital's financial hub, plans to cut the speed limit to 15mph and make the
Square Mile a "zero-emissions zone" by 2030, halving motor traffic by
Déjà vu as Cisco pulls out of office
Tech giant Cisco had walked away from
a deal to take 100,000 sq ft at 60 London Wall, EC2, throwing the firm’s
confidence in the UK into doubt once again.
Cisco, now at 16-18 Finsbury Square,
EC2, had agreed terms for the 325,000 sq ft office project, but the agreement's
exclusivity period expired without a deal being concluded.
The office is currently undergoing
redevelopment by LaSalle Investment Management and Citygrove Securities and is
scheduled for completion in June next year.
It is not the first time that Cisco
had withdrawn from a major deal. In 2000, at its Green Park scheme in Reading,
Berkshire, Prudential prelet more than 1 m sq ft to Cisco. It was the largest
prelet outside London at the time, with Cisco planning to transform the park
into a European hub.
It originally agreed to take 607,000
sq ft across five buildings with options on the remaining 617,000 sq ft. It
eventually occupied just 150,000 sq ft at the site.
It then struggled to sublet the
remaining space, which for many years remained vacant. A potential deal with
Yell's international directories company fell apart in 2007 when there was a
dispute of fit-out issues.
The latest back-pedal from Cisco
comes as the company expects a disappointing second quarter. In its current
quarter (27 October 2020 – 25 January 2020), it forecasts revenue to fall by
3-5% from a year earlier to between $11.82bn and $12.07bn.
Chaucer inks deal for the Scalpel
Establish operator, Chaucer, is under
offer to take 44,000 sq ft at the Scalpel, EC3. The insurance giant, currently
based at Plantation Place, 30 Fenchurch Street, EC3, is expected to lease the
6th, 7th and 8th floors at the 35 storey building.
With insurance group Convex taking
floors 32-34 and the British Financial Group signing for floors 28 and 29, it
is the latest tenant to commit its future to the building with over 80% of the
387,000 sq ft development now let or under offer.
View All Articles