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The Mitsubishi Estate Company (MEC) are a Japanese investor who became established in the UK in 1986 and are known for engaging in the leasing and development of real estate, dealing mainly with office buildings in the City and West End in central London. The MEC held a public consultation earlier this week over the plans for its new development, a £900 million skyscraper built in place of 6-8 Bishopsgate EC2 and 150 Leadenhall Street EC3. The current leases in both buildings are due to expire by the end of the year meaning construction could start as soon as 2016 – subject to planning.
The 40 storey building will be 770,000 sq. ft., contain a public viewing gallery at level 40 and will have shops and restaurants on the ground floor. It is being designed by Wilkinson Eyre who have completed projects such as 20 Blackfriars and 25 Great Pulteney Street, and are working on office space at Battersea Power Station. The Mitsubishi Tower is going to be a series of stacked blocks which taper as they rise however plans are not yet finalised. MEC has appointed Stanhope as development manager.
According to Andrew Ingram, a surveyor at Morgan Pryce “the building should attract a variety of tenants from different sectors due to its position between the financial and insurance districts in the City. Over the last 5 years surveyors have had to develop a knowledge off the whole central London market as we are seeing businesses move from one side to another.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.