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InteriorExterior tipped for £65m office deals

CONTRACTS - LONDON

INTERIOREXTERIOR is on the verge of winning two London office deals worth £65 million in total.

The firm is in final negotiations with German real estate giant IVG Asticus for the construction management contract on the £45 million revamp of 71 Lombard Street in the City.

And a smaller £20 million deal with the developer should see InteriorExterior managing a distinctive new office building on Caxton Street in Westminster.

The Lombard Street project will replace the former headquarters of Lloyds TSB following the bank's move to another IVG Asticus development at 25 Gresham Street in 2002. InteriorExterior had already bagged the construction management contract for this earlier deal and insiders believe the experience may have swung things for the firm in the two latest agreements.

The new Lombard Street offices will provide 15,000 sq m of commercial space within a few hundred metres of the Bank of England.

A neighbouring building,13-14 Cornhill, will also be included in the revamp. Incorporated into the main Lombard Street block several years ago, the Cornhill section will be completely rebuilt behind a retained facade and will accommodate a new core and the main entrance.The floor plates and facade of the remainder of the building will be preserved, although an additional two floors will raise the whole development to eight storeys.Under the plans, produced by architect DLG, a ground floor mezzanine and two basement levels will provide 4,600 sq m of retail space.

Plans for the Caxton Street site were originally drawn up by architect Lifschutz Davidson under instruction from Stanhope, which owned the site at the time.

When the plot was sold to IVG Asticus in July with full planning permission the firm decided to go ahead with the existing designs.

The main focus of the development - a circular commercial block - will provide 5,570 sq m of office space.

Both jobs are expected to start on site next spring.

jon. fletcher@construct. emap. com