British Land Cheesed-Off with Office Scheme Nickname
But according to various reports in todayΓÇÖs newspapers, the head of commercial property developer British Land is less than keen on the ΓÇ£CheesegraterΓÇ¥ nickname being given to the ┬ú290m 122 Lendenhall Street office scheme due to be built in the heart of LondonΓÇÖs financial district.
Providing over 80,000 sq.ft. of grade ΓÇÿAΓÇÖ office space once completed, the eye-catching building was designed in order to protect the view of St PaulΓÇÖs Cathedral and will stand at 225 metres.
And it is the architectural merits of the building which appear to have brought about a dislike of the ΓÇ£CheesegraterΓÇ¥ nickname from British Land boss Chris Grigg, who was quoted as saying that:
ΓÇ¥WeΓÇÖre (British Land) not massive fans. We think it will be a stunning piece of British architecture, so to call it a ΓÇ£CheesegraterΓÇ¥ is very disappointing.ΓÇ¥
Seen as a reaction to an upswing in the demand for prime office space in the heart of London, the Leadenhall building from British Land is one of several high-profile office schemes brought back to life in the wake of the financial downturn, as Grigg explained:
ΓÇ¥There are a lot of big leases coming to an end and a lot of those businesses want to come out of the buildings they are in into newer offices.ΓÇ¥
While the arrival of new office buildings such as 122 Leadenhall Street will no doubt temp some of these large occupiers apparently on the lookout for new office space in the city, British Land are also reportedly injecting over ┬ú600bn into other new builds and a major refurbishment project of other office properties already within thier portfolio.
In addition to the growing demand for conventional office space throughout Central London, the serviced office space market has also seen rising demand, with workstation prices finally begining to show a sustained recovery after experiencing a downturn which mirrored the shift within the commercial office space market that began in 2008.
To search for serviced office space available near you, visit www.officebroker.com