London Development Case Studies
Central St Giles, London WC2Legal & General
At the meeting-point of four of central London’s most popular destinations – Bloomsbury, Soho, Covent Garden and Fitzrovia – there was an opportunity to redevelop a significant site and replace it with a cutting edge, mixed-use new development that would attract high-profile corporate occupiers. To fulfil its potential, the scheme had to become more than just a workplace. This was somewhere that could support not just offices but shops, cafés and restaurants, apartments and a brand new public piazza. From the beginning, we took a key role in shaping the development. We identified the opportunity to acquire the adjoining building, which solved a right-of-light issue that threatened the scheme. We also sourced a funding partner in Mitsubishi Estates and advised on the selection of a design team, which was headed by Renzo Piano, one of the world’s leading architects. The landmark scheme of unmistakable buildings, including 400,000 sq ft of award-winning office space, was then let by JLL. Our market research identified the potential to attract media occupiers, which in turn changed the pricing paradigm for the area. Our letting campaign and competing tenant interest drove rents from £50 per sq ft to £65 per sq ft. The entire scheme was let within 12 months.
Stratford City, London E20London & Continental Railways/Lend Lease
Stratford City is an entirely new metropolitan district that dramatically extends the capital eastwards. Incorporating the Olympic Village and an international rail station, Stratford City will create 4,500 new homes, 5m sq ft of office space and 1.5m sq ft of retail, all with sustainability at the heart of the design and construction. We’ve been involved with the development since 2005, advising London and Continental Railways (LCR) on the content of the scheme before the award of the Olympic Games. Once Stratford had been selected for the London 2012 Olympics, we provided advice to LCR and the Olympic Delivery Authority on a development partner – Lend Lease – to deliver the Olympic Village, and managed the entire partner procurement and selection process. Our association with Stratford continues. We are advising on estate management strategy and we are working with LCR and Lend Lease to market the scheme’s new office district – now known as The International Quarter – turning it into a thriving new business destination for London.
Bush House, London WC2Kato Kagako Co.
JLL has a long-standing 20 year relationship with Kato Kagako Co. on this property, providing a full asset management service in a trusted adviser role. With the BBC signalling their intention to vacate, we ran a detailed strategic review of the potential redevelopment and use options, putting together and managing the professional team to produce a recommendation for the revitalisation and renewal of this iconic site. Our Development team are now in place to realise the restoration and transformation of this Grade II-listed art deco estate, providing project management, cost management, design development and construction management advice. Our planning team is managing the complex process of delivering the necessary consents from Westminster. The scheme benefitted from early input from the Property Management team, who will run the scheme once complete, and from our Leasing team, who are instructed to find new occupiers for the next phase for this famous site, realising the value for our client.
The Heron, London EC2Heron International
The Heron is a striking new residential tower on the edge of the Square Mile. Housing the Guildhall School of Music and Drama on its lower six floors, and a range of stunning contemporary apartments on the 29 floors above, the tower is built to exceptionally high environmental standards. Early in the scheme, JLL assisted Heron in developing its product to ensure that every last detail of the apartments was designed to achieve the best result. Then, in 2010, Heron launched a sales campaign, leveraging JLL's unrivalled global connections in the UK and the Far East; in Hong Kong, Malaysia and Singapore. The luxury on-site marketing pavilion that Heron opened to drive the London campaign soon became the talk of the UK property marketing world. For the Far East centres, Heron developed an exceptionally high quality portable exhibition that could occupy 6-star hotel suites for three days at a time. The models of the building and of individual apartments, the animated walk-throughs of each type of property and other displays offered each individual a dazzlingly realistic sense of the quality of the scheme. The campaign scooped awards and, in the face of the most challenging UK market for a generation, 85% of apartments at the Heron were sold with nine months to completion, a fantastic result.
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