Aviva Investors acquires 101 Moorgate development site
Aviva Investors, a global asset management unit of Aviva, has completed the acquisition of the long leasehold interest in 101 Moorgate, EC2, from Transport for London (TfL). Aviva Investors will develop a mixed-use retail and office site above Crossrail infrastructure and opposite the new Crossrail Liverpool Street Station western entrance.
The site sits prominently on Moorgate, close to the junction with London Wall and opposite the entrance to Finsbury Circus. With the existing connectivity of Moorgate Station set to be boosted by the arrival of the Elizabeth Line, the area has already seen significant redevelopment and rejuvenation.
The consented scheme will deliver more than 51,000 sq ft of office and over 2,500 sq. ft retail accommodation over ground and six upper floors with two landscaped terraces on the 5th and 6th floors. Typical office floor plates will be approximately 9,000 sq ft NIA. The development is scheduled to complete in 2022.
The acquisition represents the reinvestment of proceeds from Aviva Investors’ sale of 4 Matthew Parker Street, London, and the business’s ongoing commitment to the London market.
James Stevens, Head of Development, Global Real Estate, at Aviva Investors, says: “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 sub markets. We are excited by this opportunity to deliver a top class building in an exceptional location within the evolving map of London.”
Graeme Craig, Director of Commercial Development at TfL, says: “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.”