Cheesegrater moves into next phase as construction begins.
The London office development is expected to be fully completed by 2014.
Construction work has begun on the Cheesegrater office building in the heart of London. 22 Leadenhall or the Cheesegrater building will provide over 600,000 square feet of high quality office space upon its completion.
The development was slated to begin construction in 2009 but the economic downturn caused the project to stall. However thanks to an improvement on the market, British Land have restarted work on the project.
The ‘Cheese-grater’ building is already attracting a lot of attention from potential clients and is expected to meet a lot of the current demand for high quality office space in London. The development is expected to be completed by 2014.
“The Leadenhall Building is already generating strong interest from a broad range of occupiers in the insurance, financial, professional and corporate business sectors and will complete at a time when we believe strong demand and supply constraints will coincide,” commented Nigel Webb, head of development at British Land.
The project joins the roster of other office developments that suffered setbacks from the financial downturn but have seen new life recently, these include the ‘Walkie Talkie’ tower which is expected to be completed by Land Securities during 2014.
22 Leadenhall will be part of the iconic London skyline upond its completion standing alongside buildings like the ‘Gherkin’ and the nearly completed ‘Shard’.