(London) – Aviva Investors, the global asset management business of Aviva PLC, has entered into a development agreement with Transport for London (TfL) to build a new mixed-use retail and office building at 1 Liverpool Street.
The proposal will deliver a building opposite the new Liverpool Street Elizabeth line eastern station entrance at 1 Liverpool Street as well as above and around Crossrail infrastructure, which will complete the west end of Liverpool Street.
The Eric Parry-designed scheme will provide circa 175,000 sq. ft. (net leasable area) of office and retail space over ground and 10 upper floors, subject to planning approval. The site bookmarks the Crossrail platform with Aviva Investors’ ongoing development at 101 Moorgate. This development at the new eastern entrance to the Elizabeth line at Liverpool Street station complements the site opposite the new western entrance at 101 Moorgate, which Aviva Investors concluded a deal with TfL for earlier this year.
The project intends to deliver a quality building on the south west edge of Liverpool Street and benefits from the significant investment being made into Liverpool Street and Broadgate. The scheme will establish a strong visual connection between the key urban spaces of Finsbury Circus, Liverpool Street and Broadgate.
James Stevens, Head of Development, Global Real Estate, at Aviva Investors, said:
“This is undoubtably one of the best development sites in the City of London and we are excited to continue our partnership with TfL. Having the opportunity to develop top quality buildings immediately above the east and west entrances to Crossrail Liverpool Street is both unique and exciting. This transaction marks another significant step in repositioning the Aviva Investors Real Estate portfolio for growth and is set to benefit from a rapidly evolving City of London.”
Graeme Craig, Director of Commercial Development at TfL, said:
“This site in the heart of London offers the potential for fantastic new office and retail space, supporting the city’s growth, and we are pleased to have concluded this transaction with Aviva Investors. As a key part of our huge development pipeline, the Elizabeth line schemes are directly opening up opportunities for new homes and jobs and will raise vital revenue to reinvest in London’s transport network.”