Transport for London (TfL) has secured a deal with Aviva Investors to build a mixed-use scheme, above Crossrail infrastructure and opposite the new Liverpool Street Elizabeth line station
Plans are in place for 12 major developments above and around new Elizabeth line stations and Crossrail infrastructure sites. Together, the development plans cover more than three million square feet of office, retail and residential space spread across the capital between Paddington in the west and Woolwich in the east.
TfL has granted Aviva Investors a long lease on the Crossrail infrastructure sites, generating vital revenue that TfL will reinvest back into the transport network.
The announcement follows the signing of other development agreements including:
- Bond Street Station West where an agreement has been signed with Grosvenor Britain & Ireland to develop 110,000 sq ft of space above the western ticket hall.
- Farringdon Station East, where an agreement has been signed for a development over the eastern ticket hall with Helical Plc. The scheme comprises 120,000 sq ft (gross) of space, including offices, a terrace and a restaurant over six storeys.
- Farringdon Station West, where an agreement has been signed for the development over the western entrance with HB Reavis. The scheme comprises 138,000 sq ft and will be a combination of retail and office space.
- Bond Street Station East, where an agreement has been signed with the GHS Limited Partnership (one of Great Portland Estates plc’s joint ventures) to develop a 129,900 sq ft mixed use scheme above Bond Street station’s eastern entrance at Hanover Square.
Graeme Craig, director of commercial development at TfL, said: “This site in the heart of London offers the potential for fantastic new office and retail space, supporting the city’s growth, and we are pleased to have concluded this transaction with Aviva Investors.
“As a key part of our huge development pipeline, the Elizabeth line schemes are directly opening up opportunities for new homes and jobs, and will raise vital revenue to reinvest in London’s transport network.”
James Stevens, head of development, global real estate, at Aviva Investors, added: “This is a key development for Aviva Investors and highlights our continued conviction in London. Moorgate is at the epicentre of a rapidly changing urban landscape and sits at a unique confluence between historic submarkets.
“We are excited by this opportunity to deliver a top class building in an exceptional location within the evolving map of London.”