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British Land granted planning on major mixed-use scheme

British Land has received planning permission for a 517,000 sq ft office and retail development on Liverpool Street.

The 100 Liverpool Street scheme includes improvements to local connections and the public space between 100 Liverpool Street, Liverpool Street station and Broadgate Circus.

The client has also submitted a planning application for a 300,000 sq ft retail and office development, 1 Finsbury Avenue.

The project is part of British Land’s wider development plans for the Broadgate area, which it is delivering alongside Singaporean investor GIC.

In a Q1 2015 trading update today, British Land chief executive Chris Grigg said the group in June had handed over its 5 Broadgate project, which is being built by Mace, to investment bank UBS.

The group reported a strong letting performance for the period, particularly in retail.

It said 129,000 sq ft of retail lettings and renewals were 9.4 per cent ahead of estimated rental values for March 2015.

In addition, 132,000 sq ft of office lettings and renewals were 1.6 per cent ahead of March 2015 ERV.

The Leadenhall Building is now 90 per cent let or under offer, compared with 84 per cent at the end of the financial year, it said.

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