Scheme at 1 Appold Street is latest deal in Broadgate redevelopment

British Land is looking at a pre-let before pressing ahead with one of the last major schemes in its ongoing redevelopment of the Broadgate campus in the City of London, Building understands.

Three firms were shortlisted in the spring for the job, known as 1 Appold Street, which has a construction value of around £220m. A winner was expected in the autumn.

But bidders Lendlease, Skanska and Multiplex have been told the procurement process has slowed down while the developer sorts out a pre-let.

One source said: “We’ve been told the start is being pushed back. They’re pausing it although they’ve said the pre-let interest is pretty strong.”

In a statement, British Land said it would complete stage 3 designs for the scheme and added: “As with all our projects, we always consider our options. We have good interest in 1 Appold Street from potential occupiers so far which we are progressing.”

Appold 2

Source: Piercy & Co

Piercy’s Appold Street proposals, seen from Exchange Square

Designed by Piercy & Company, the work will involve retaining 75% of the existing 1980s office building, originally designed by SOM, stripping it back to its core and extending it upwards by five floors to make 13 storeys.

As well as adding extra storeys to the current structure, the practice’s plans extend the building’s floorplates closer to the site perimeter. Under the proposals, balconies would be provided on the new building’s eastern façade and there would also be a rooftop pavilion and terrace.

British Land’s team includes project manager Opera, quantity surveyor Core 5, AKTII as structural and façade engineer and DSDHA as landscape architect.