The Greater London Authority has published its stage two report on the new 38-storey headquarters that American insurance holding company W R Berkley has proposed for its European business at 52-54 Lime Street in the City of London and has approved the scheme.
This follows the City planning authority’s resolution to grant planning consent for the development, which would provide over 500,000 sq ft of commercial space only metres from Lloyd’s of London, the home of the international insurance and reinsurance markets.
The proposed new tower at 52-54 Lime Street – nicknamed by commentators the Scalpel – is designed by award-winning architects Kohn Pedersen Fox. It would create 7,700 sq ft of new public space at street level, over 1,000 sq ft of new retail space and a new 10,000 sq ft restaurant below-ground. The development is funded by W. R. Berkley, which also intends to take up to 25 per cent of the total office space (80,000-100,000 sq ft) as the European base for its five London businesses.
At the same time, W R Berkley has announced that Cushman & Wakefield has been appointed for the leasing of the building, alongside DTZ, an appointment announced previously.
“We believe that having Cushman &Wakefield working alongside DTZ offers the depth and breadth of expertise needed for leasing property of this advanced specification in Europe’s financial capital,” says Andrew Reynolds, vice-president of UK property at WRBC Services.
Digby Flower, head of London markets, Cushman & Wakefield, says: “We are delighted to have been appointed on what will be the next landmark on the City skyline and another great addition to the built environment in the City of London.”