Planning Application for 5 Br

RNS Number : 7084X

British Land Co PLC

10 December 2010

 



10^th December 2010

Planning application submitted for 5 Broadgate

The British Land Company PLC and the Blackstone Group have today submitted a detailed planning application for a new world class office building for financial services firm UBS, called 5 Broadgate.  5 Broadgate will provide a total net office floorspace of approximately 700,000 sqft (65,032 sqm), and will include four trading floors capable of accommodating approximately 750 traders per floor.

5 Broadgate will allow UBS to bring together its trading operation into one building in the City. This new building also represents a further stage in the successful evolution of the Broadgate office estate and the retention of one of the world's leading investment banks in the heart of the City of London. 

5 Broadgate will be of world class architecture, designed by Ken Shuttleworth at Make, and replaces 3, 4 and 6 Broadgate.  The building responds to the scale of the Broadgate buildings with the lower trading floors at the height of the Arena and the upper office floors at the height of the adjacent Exchange House and Bishopsgate buildings.  It will sit within the swathe of groundscrapers in the City, with the cluster of towers dominating the skyline to the south.

A new public route will be opened up east-west connecting Broadgate Circle with Sun Street Passage to provide a direct route to Liverpool Street Station and to Exchange Square to the north.  A new 'gateway space', known as Sun Street Square, with a café at the base of 3 Finsbury will be created to provide a new pedestrian crossing to Crown Placeand the northern approach to Finsbury Avenue Square will be redefined with new landscaping. Sun Street Square and Sun Street Passage both present an opportunity for the incorporation of public art, including an 'art wall'.

The new building will have the highest standards of sustainability. Innovative environmental measures will be incorporated into the building design including generating low carbon energy with photovoltaics and solar thermal panels, reducing water consumption by rainwater harvesting and increasing biodiversity through the incorporation of green roofs and terraces.

Chris Grigg, Chief Executive of The British Land Company PLC, said: "It is vital that the City is able to meet the current and future needs of key occupiers for attractive, flexible and sustainable floorspace as financial services will be a major driver in the recovery of the UK economy from recession.

These proposals meet UBS' needs and further reinforce British Land's confidence in the City of London and the development of the Broadgate complex. It is a sign of huge confidence in London's status as a world financial centre that UBS has committed to building a new world class office building in the heart of the City. "

Chad Pike, Senior Managing Director of Blackstone, said: "The combination of the qualities of the Broadgate Estate, Blackstone and British Land's longstanding relationship with UBS and British Land's ability to deliver the highest quality office building made this an obvious transaction for all parties involved."

Ken Shuttleworth, of Make, commented: "We are thrilled to be working with British Land and Blackstone in realising UBS' vision of a flexible, highly insulated and energy efficient building at Broadgate.  Our bold design was conceived from the idea of a perfectly cast 'engine of finance', and responds to the strength and spirit of Broadgate. We believe it sets a new standard for the future generation of truly adaptable buildings."

Enquiries:

Media

Gordon Simpson, Finsbury                                                     020 7251 3801

Pip Wood, British Land                                                           020 7467 2838

Investor Relations

Sally Jones, British Land                                                        020 7467 2942

Notes to Editors

1.  5 Broadgate will be a new world class office building for UBS with ground plus 12 storeys and two basements for commercial office use with a proposed total GEA of  1,161,747 sqft or 108,213 sqm (an uplift in floor area of 52,519sqm).  The main building height will be 74.5m AOD, with additional plant on the roof taking the maximum height of the building to 83.5m.  The new building will be able to accommodate up to approximately 6,000 employees.

2.  The ground and first floors will provide the main entrance on Broadgate Circle and will accommodate a series of spaces hosting ancillary functions to the main office use, including a possible staff restaurant, space for art, gym and auditorium.  Floors 2-6 will have large uninterrupted floor plates of approximately 5,800 net sqm to house trading and trading support functions.  Floors 7 and 8 will contain meeting and conference rooms, amenity areas and external terraces.  On the upper floors, 9 to 12, traditional office space will be provided and plant equipment will be housed on the top floor, with additional plant located on the roof.  Two basement levels will accommodate plant, storage and vehicle servicing.

 3.  As part of British Land's commitment to a sustainable working environment, the building is targeted to achieve a BREEAM Excellent 2008 rating and exceed the 2006 Building Regulation Part L2A carbon emissions requirement by some 50%. The project will divert 90% of demolition and construction waste from landfill.  The existing buildings currently provide 40 car parking spaces and this will be reduced to 22 spaces (including 3 for disabled users) in the new building which will encourage motorcycle and cycle usage by providing 145 and 520 spaces respectively.

 

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