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The Weekly Wrap

NEW INSTRUCTION! – 55 Bishopsgate

55 Bishopsgate, EC2 – Part 7th floor (1,580 sq ft) located close to Liverpool Street, Moorgate and Bank stations, provides exceptional transport links which will be further enhanced with the arrival of the Elizabeth Line in 2021.

Fountain House – LET

We are delighted to announce that the 4th floor offices (8,122 sq ft) at Fountain House, 130 Fenchurch Street, EC3 have been let to Content & Code Ltd.Situated in the heart of the City’s insurance district, Fountain House is ideally located for Lloyd’s of London and can be accessed from Fenchurch Street, Cullum Street or Fen Court.For more information please contact Ali Porter (0207 456 0707) or Jon Beilin (0207 456 0727) at Newton Perkins.

Schroders secures a loan extension of £93.75m from DekaBank on City's 55 Bishopsgate

Schroder Real Estate Investment Management secured a £93.75m, 18-month loan extension from DekaBank for 55 Bishopsgate, EC2 in the City of London.

Arranged over basement, ground and seven upper floors, the 193,000 sq ft building is let to 13 tenants.

The loan is being made available to joint venture owners managed by Schroder Real Estate Investment Management and will enable Schroders to progress its asset management strategy and explore longer-term options for the property.

In December 2015, Schroder Real Estate bought the property from the Canada Pension Plan Investment Board on behalf of a separate account holder for just under £190m.

After lettings to Towergate Underwriting, Boots and Fitness First totalling 63,000 sq ft, the last occupant to sign up was Hampshire Trust Ban, holding a first floor ten-year lease at a rent of £61 per sq ft.

City of London Corp confirms sale of Wood Street Police station

The City of London Corporation has completed the sale of Wood Street police station in the City of London.

Wood Street Hotel Ltd, owned by Magnificent Hotels, secured a 151-year lease for the class II listed building, and plans to turn it into a five-star boutique hotel, subject to planning permission.

It is reported that the Hong Kong-based company bought the police station at a sum of over £40m.

Last year, the City of London Police found the station to be redundant to operational requirements.

The building will be used by the police until roughly December this year to allow time for the decommissioning of the building.

City of London Corporation planning chief retires

A senior council manager who has been active in some of the biggest projects at Square Mile over the last three decades is withdrawing from the City of London Corporation.

Chief Planning Officer Annie Hampson OBE has been closely involved in projects such as the Gherkin, the Millennium Bridge, the Bank of England's refurbishment and the redevelopment of St Bartholomew's Hospital with the corporation in her 31 years.

The planning department won a number of awards while she was in charge, including the Local Planning Authority of the Year and the Mayor’s Prize for Planning Excellence at the 2017 London Planning Awards.

New architects for Smithfield market announced

Studio Egret West and Hawkins\Brown are the winning architectural teams for the buildings of Smithfield East and West Market.

The projects will help fulfil the dream for Culture Mile of the City of London Corporation stretching from Farringdon to Moorgate.

Culture Mile is led by the City of London Corporation, along with the Barbican, the Guildhall School of Music & Drama, the London Symphony Orchestra, the London Museum and an increasing network of partners from across the financial, educational and public industries.

Together the partners are driving the area's transition, enhancing their value to customers with seven days a week of creative partnerships, outdoor entertainment, and activities.

Once the Elizabeth Line stations open at Farringdon and Moorgate by 2021, it is anticipated that many thousands of more people will come to the City. The new Museum of London is set to open in 2024 in Smithfield as well as a new Centre for Music.

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