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The Place had its official launch in London yesterday, as it began searching for tenants to occupy the no less than 430,000 square feet of office space that it has on offer. The Place is a part of the Seller Property’s London Bridge Quarter, and is situated next to another major London development, the Shard. The Place was designed by one of the leading architects on the international stage, Renzo Piano, and is currently under construction, with an expected completion date of early 2013.
“The Place will be London’s largest and most efficient building to hit the market in 2013 – at a time when there is expected to be a real shortage of prime Grade A space available to let,” says the chairman of developer Seller Group, Irvine Sellar. “The Place benefits from sharing architectural, design and construction DNA with the Shard which will be completed next year.”
The Place is expected to cost somewhere in the range of £13 million to build, but will have a completed value closer to around £500 million. Sellar describes it as one of the largest speculative buildings that has ever have been built in London. The search for potential tenants has now begun in earnest, with the likes of media and professional services companies believed to be the most likely to be interested in letting space in the commercial property.
SOURCES: propertyweek.com/ ft.com
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