TfL quits Shard as developers reach for the sky

14/06/10 3:21 pm By Deirdre Hipwell

Transport for London will no longer become the first office tenant at the Shard at London Bridge as the developers look to position the building at the “top end” of the London market.

The transport body was lined up to take nearly 200,000 sq ft at the landmark development, part of the £2bn London Bridge Quarter scheme. However, the partners on the scheme - Sellar Property Group and the State of Qatar – have now acquired TfL’s pre-let agreement.

They will work closely with TfL to help it find alternative accommodation.

A spokesman for London Bridge Quarter said: “This agreement enables us to position the Shard at the very top end of the London office market. Together, the Shard and London Bridge Place will deliver more than 1m sq ft of Grade A offices located on one of London’s busiest transport hubs in a landmark building of the highest quality.”

The change of plan follows a number of high profile deals in the City of London to major occupiers, leaving a lack of supply and rising rents which the Shard’s developers believe it is well placed to capitalise on when it completes in May 2012.

The building comprises 586,000 sq ft of office space along with a hotel, apartments, and retail and leisure space.

It is part of the wider £2bn London Bridge Quarter scheme, designed by Renzo Piano, around London Bridge station, which also includes the 419,000 sq ft London Bridge Place office, a square, a redeveloped station concourse and a new bus station.

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