Work on Cheesegrater set to begin in London

The new Cheesegrater building will start to take shape in the City of London early next year.

Article posted: 23 Dec 2010

British Land has indicated that it is ready to begin work on the 47-storey tower dubbed "the Cheesegrater".

The firm has now agreed terms on a joint venture partnership with Oxford Properties Group, the property arm of the Ontario Pension Fund, to develop the £340 million project.

Officially known as the Leadenhall Building, the new skyscraper will create 610,000 sq ft of office space in the City of London when it is completed in 2014.

Chris Grigg, chief executive of British Land, said the structure is set to bring "a unique combination of iconic architecture with world-class public and office spaces" to the Square Mile.

It will be one of the tallest buildings in London's financial district and is already attracting interest from potential tenants, according to the Evening Standard.

The newspaper said insurer Markel and insurance broker Aon are among several firms thought to be considering space in the tower, which derived its nickname from its distinctive wedge-shaped appearance.

Other new high-profile buildings set to boost the market for office space in London include "the Walkie Talkie" and the Shard of Glass.

Posted by A J Rand