The developer has confirmed that it is talks with Deutsche Bank over the firm pre-letting the space

21 Moorfields

Land Securities plans for its newly-purchased 21 Moorfields site in the City of London.

A possible pre-let deal with Deutsche Bank could see Land Securities redesign its plans for 21 Moorfields in east London.

The developer has confirmed that it is in discussions with the German bank about pre-letting the office space at the scheme, which if agreed “would require alterations” to the current Wilkinson Eyre designs, the firm said.

The 1.9 acre site, which Land Securities acquired in 2015, is above Moorgate underground station and what will be the western ticket office for Liverpool Street’s Crossrail station.

Demolition of the existing buildings at the site is expected to be completed shortly and will be followed by enabling works and the construction of an above station raft, which is due to finish next June.

The current plans for the scheme included two new buildings rising up to 16 storeys in height and totalling over 500,000 sq ft of office and ground level retail space set around a new public square.

However, Land Securities added that the negotiations would take several months with no guarantee of a deal being reached.

The developer won planning approval for the current scheme in November 2015 but had to apply again to the City of London for powers to enable the development to proceed after it was unable to settle “a significant number” of right of light claims.

The firm asked the City to authorise the purchase of an interest in the site in order to continue with the development.

At the time, Land Securities development director Kiran Pawar said: “21 Moorfields is a strategically important site in the City of London, positioned above the new Crossrail station and the regeneration of this site is clearly in the public interest. Requesting the City of London to use their powers…will help to prevent unnecessary delays to the delivery of the scheme.”

Deutsche Bank previously pre-let 92,000 sq ft on a 15-year lease at another Land Securities scheme, The Zig Zag building in Victoria to move some of its banking operations from the Square Mile.