Advertisement
Australia markets closed
  • ALL ORDS

    8,050.20
    -23.90 (-0.30%)
     
  • ASX 200

    7,788.10
    -25.50 (-0.33%)
     
  • AUD/USD

    0.6467
    -0.0073 (-1.11%)
     
  • OIL

    85.45
    +0.43 (+0.51%)
     
  • GOLD

    2,360.20
    -12.50 (-0.53%)
     
  • Bitcoin AUD

    104,258.80
    -3,480.53 (-3.23%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6073
    -0.0017 (-0.29%)
     
  • AUD/NZD

    1.0885
    -0.0012 (-0.11%)
     
  • NZX 50

    11,931.32
    -2.99 (-0.03%)
     
  • NASDAQ

    18,003.49
    -304.50 (-1.66%)
     
  • FTSE

    7,995.58
    +71.78 (+0.91%)
     
  • Dow Jones

    37,983.24
    -475.84 (-1.24%)
     
  • DAX

    17,930.32
    -24.16 (-0.13%)
     
  • Hang Seng

    16,721.69
    -373.34 (-2.18%)
     
  • NIKKEI 225

    39,523.55
    +80.92 (+0.21%)
     

British Land's Norton Folgate scheme "almost 50% let" after signings

View of Norton Folgate development in Spitalfields (British Land)
View of Norton Folgate development in Spitalfields (British Land)

Developer British Land has signed three new occupiers, including two restaurants, at its historic £225 million Norton Folgate regeneration scheme on the edge of the City in Spitalfields.

The deals means that the 335,000 sq ft mixed use development - a mix of six Georgian, Victorian and new buildings around a cobbled courtyard - is almost 50% let.

The latest signings are for Swiss sportswear brand On, which has taken 20,000 sq ft of office space in the Loom Court building, Sri Lankan restaurant Kolamba East, which will occupy 2,700 sq ft on the ground floor of 16 Blossom Street, and Chinese dumpling specialist Xi Home, which is taking 1,650 sq ft on Blossom Steet.

ADVERTISEMENT

David Lockyer, head of development at British Land, said: “Norton Folgate sets new standards for retrofit, refurbishment and redevelopment in Central London. At a time when businesses want to focus on their brand and culture, Norton Folgate supports everything a modern business wants with a combination of buildings with historic character, impressive sustainability credentials and a vibrant environment. This creates an unparalleled platform for modern businesses to thrive and gives businesses a very special identity.

“These new lettings reflect Norton Folgate’s appeal as a well-located, high quality destination for dining, work and leisure.”

Four architects have worked together on the project: AHMM, Stanton Williams, Morris + Company and DSDHA,

The main contractor for Norton Folgate was Skanska, working alongside landscape architects East, structural and civil engineers AKTII, mechanical and electrical engineers Arup, project managers M3 Consulting and cost consultants Turner & Townsend and Alinea.

Savills acted for British Land on the restaurant lettings, and JLL and Allsop advised British Land on the office lettings.

The Norton Folgate site was the subject of one of the longest running planning dispites in recent London history with conservationists led by local resident art historian Dan Cruickshank leading opposition to an earlier British Land proposal as long ago as 1977. A protest in 2015 saw around 500 people joining hands around the area. Tower Hamlets Council rejected the scheme, but was overruled by the then mayor of London, Boris Johnson. in 2018