12 Mar 2012, 4:47 pm
The site is 1 & 2 Aldgate Place , the companies said.
“[This] consolidates our presence in the exciting Aldgate area alongside our 27-storey Altitude development on Alie Street which has already sold 20 units after its recent launch," said Alastair Baird, regional managing director of Barratt London. "This is our third major JV in London following the 235 unit Alie Street and 375 unit Queenstown Road agreements with London and Quadrant."
The site, which was sold by Tishman Speyer, has an existing planning consent for 850,000 square feet of offices and the two companies will seek a revised planning permission.
“We are pleased to have exchanged a conditional agreement to purchase this highly attractive site on the edge of the City. We believe our combined skills in delivering large scale mixed use schemes will enable us to unlock significant value from the site” said Nigel Webb, head of development at British Land.
