Post-Brexit uncertainty throws another scheme into question
The developer behind the Make-designed £400m 40 Leadenhall office project in the Square Mile has said it needs to pre-let some of the scheme to begin work.
TH Real Estate told Building the 910,000ft2 scheme, popularly known as “Gotham City” and set to be built by Mace, would now only progress “subject to the pre-letting of sufficient space to support our business plan”.
But the developer added: “Sentiment remains to progress the scheme.”
In an update issued to Building earlier today, the firm said: “The business plan for the scheme has always included a pre-let element so the status has not changed. We remain fully committed to the central London office market and to our current portfolio.”
The project team includes Arcadis as the quantity surveyor and WSP Parsons Brinckerhoff as the structural and M&E engineer and sustainability consultant.
Gareth Lewis, chief operating officer at Mace said the contractor was supporting TH Real Estate “to progress the scheme in line with their development objectives,” adding that work on 40 Leadenhall continues.
The news comes as a number of London commercial jobs have been thrown into question following the leave vote at last month’s EU referendum.