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British Land to report on Cheesegrater bolt failure in 2015

A report on two steel bolts that broke on British Land’s iconic Cheesegrater building this month is likely to be published in the New Year, according to the developer’s chief executive.

Chris Grigg said it would take “a little time” for results on the various test to come through and to then “formulate a plan”.

The developer had originally said it expected the results of the investigations by Arup and Laing O’Rourke to be known this week.

The investigation at the Leadenhall Building, popularly known as the Cheesegrater, started this month after two 1 m-long bolts broke at the 47-storey landmark building, with one falling from the fifth floor.

Following the news, Mr Grigg said the incident was a “shock to all concerned” but insisted there was no risk to the structural integrity of the building.  

The chief executive updated the City as the group announced its half year financial results.

The developer posted a 6.2 per cent increase in its pre-tax profit to £155m, compared with £146m for the same period the year before.

Total portfolio valuation had risen 7.2 per cent to £12,8bn from £11,9bn the year before.

Around £1bn of profits generated was from its current development cycle, this included £800m from its 2010 development programme.

Mr Grigg said its near-term pipeline was now focused on office development, with the company expecting to commit on 4 Kingdom Street and submit planning on Blossom Street, Shoreditch in the next few months.

Earlier this month Construction News revealed Wates had been appointed to a pre-construction deal to build the 147,000 sq ft 4 Kingdom office development.

At 5 Kingdom Street, British Land is working with Hopkins Architects to improve the design on the 240,000sq ft office scheme.

At Broadgate, the group said it expected an application for the redevelopment of 100 Liverpool Street before the end of the year.

Near-term prospects in retail include the development of Drake Circus Leisure, a £35m cinema and restaurant scheme near to British Land’s Drake Circus shopping centre.

The group has exchanged conditional contracts with Plymouth City Council and will submit a planning application early next year on this.

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