British Land and Oxford Partnerships confrim joint venture to develop £340m tower

A deal between British Land and Oxford Partnerships to develop the Cheesegrater has been sealed.

British Land will be the lead development manager on the £340m iconic building in the City of London.

The 224m high tower will be one of the tallest buildings in the Square Mile.

British Land’s initial contribution is the land valued at £90m which Oxford will match in cash for the costs of preparing and commencing the work. Further development costs will be shared 50:50.

Balfour Beatty, Bovis Lend Lease, Laing O’Rourke, Mace, Skanska and Sir Robert McAlpine are currently bidding for the contract, with news of the successful firm expected in the New Year.