Legal & General Property (LGP) has entered into a partnership with Mitsubishi Estate London to build the £275M Hammersmith office scheme in London, UK.
LGP has sold a 50% stake in the project, due to start next month, to Mitsubishi Estate London — forming the third partnership between both companies.
The 23,000sq m building project has planning consent from Hammersmith & Fulham Council and will consist of a basement, ground and 11 upper-storeys, and an extensive public realm, including a new urban park and plaza.
It will also include four shop or leisure units and an 110sq m work lobby café.
Simon Wilkes, LGP's head of business space development, said: “245 Hammersmith Road will be much more than just an office building; we are creating a destination with modern working and lifestyle trends at the core of our thinking.
"There is still a lack of Grade A development taking place which means we are set to benefit from rental growth.
“We are already seeing high levels of interest from blue chip occupiers, who are particularly drawn to the design and location of the scheme, especially given the competitive nature of the rents compared to the West End."
The scheme, designed by Sheppherd Robson, is expected to be complete by the first quarter of 2019.
* Data provided by Timetric's Construction Intelligence Center.