GPOR.L Regulatory News (GPOR)

23 Apr 2007 13:01

Great Portland Estates PLC23 April 2007 100 Bishopsgate receives committee approval 23 April 2007 Great Portland Estates plc ("GPE") has today received resolution to grantplanning permission from the City of London for its proposed development at 100Bishopsgate, EC3. Designed by leading British architects Allies and Morrison, the proposed schemeis a comprehensive masterplanning of the site to provide three new buildingstotalling 815,000 sq ft net which will include a 40 storey, 165m tall officetower, a public library, retail and a new Livery Hall for The Leathersellers'Company who are GPE's development partner for the scheme. The existing buildingson the site comprise 310,000 sq ft with the majority let until 2011. Neil Thompson, GPE Development Director, said; "We are delighted to havereceived support from the City Corporation for this scheme. Working closely withthe City Planners has been a rewarding process for GPE and our project team. 100Bishopsgate is a well designed building in a first class location within theCity cluster." To see the accompanying image of the proposed development at 100 Bishopsgate, pleasecopy and paste the below link into your web browser: http://www.rns-pdf.londonstockexchange.com/rns/3437v_-2007-4-23.pdf Contacts: Great Portland Estates plcNeil Thompson Development Director 44 (0) 20 7647 3029Toby Courtauld Chief Executive 44 (0) 20 7647 3042 FinsburyGordon Simpson 44 (0) 20 7251 3801James Murgatroyd 44 (0) 20 7251 3801 JeffersonIan Lindsley 44 (0) 20 7256 8912 • The majority of leases on the existing building expire in 2011. • The proposed development will have a total gross external area of 1,285,000 sq ft (119,379 sq m), providing 785,000 sq ft (72,928 sq m) net office space and 15,250 sq ft (1,416 sq m) net retail space creating an active street frontage. • The proposed scheme comprises three buildings: Building 1 is a 40-storey tower building prominently located on the corner of Bishopsgate and Camomile Street rising to 165.1m above ground. The building is lower than the existing pinnacle at Tower 42 (183m), Swiss Re (179.8m) and other consented tall buildings including the Heron Tower (202.5m) which is immediately to the north of 100 Bishopsgate. The top of the building ties through with the 'shoulder' of Heron Tower and the step below the pinnacle of Tower 42. The building identity in the skyline is legible in its own right amongst the other buildings in the emerging cluster. It is a centre core building with large and efficient upper floors, producing clear rectilinear office space with spectacular views. The tower form of Building 1 was developed by adopting the parallelogram geometry of the site. From the base, the floor plate rotates to form a rectangle at the top, so it narrows as it gains height to reduce its profile and give a range of large floor plate sizes. This creates the impression of a twist in the form, created by a series of vertical facades with sloping triangles. Two surfaces are sloped and the remainder, are vertical. As the building comes down to meet the ground, the glazing falls away with the metalwork continuing through to create a 'skirt' detail at first floor level. At the lower ground level there will be a 200 seat auditorium for office occupiers. The lifting strategy ensures that the floor plates are as efficient in the lower floors of Building 1 as they are towards the top. The building will be served by double decker lifts which will take people up to a sky lobby on the 15th and 16th floors offering transfer to mid and high rise groups. Building 2 is a 7-storey building at the corner of St Mary Axe and Camomile Street. It will contain a new 5,000 sq ft public library and retail units at ground floor level. The upper floors provide office accommodation with four floors connecting to Building 1 to provide potential trading floors, or large space user office floors. The lower floors of Building 2 are accessed separately from the entrance at the junction of St Mary Axe and Camomile Street. Building 3 is a 7-storey building which is a new rectangular building behind the retained facade on St Helen's Place. This building will contain the new Livery Hall and principal rooms for the Leatherseller's Company over the ground and first floors. The upper four floors will contain high quality office space with a self contained entrance to St Helens Place. • The position of the three proposed buildings on the site vastly improves the public realm, and creates a new link between Bishopsgate and St Mary Axe. The new area between the buildings provides a destination in the form of a public square lined with shops, cafes and restaurants for visitors away from the noise and congestion of the City. A waterfall into a rectangular pool will create a focal point within the landscape. The site is located partially within the St Helen's Place Conservation Area and conservation area consent has also been granted. The site does not include any listed buildings but is adjacent to the listed St Ethelburga's Centre for Reconciliation and Peace. • The site is not within any of the strategic viewing corridors, background consultation areas or the St Paul's Heights Grid and is outside the proposed viewing corridors within the Mayor's draft London View Management Framework SPG. • The site benefits from excellent public transport links with Liverpool Street, Fenchurch Street, Moorgate, Bank and Aldgate stations all within easy walking distance and is close to numerous bus routes servicing the City. • The building is an environmentally progressive scheme which utilises photovoltaic technology and solar water heating and addresses the London Plan policies on energy. This is supported by provision for bio-fuel heating with duel fuel boilers at basement level. It is expected to achieve a 'Very Good' BREEAM rating. Natural ventilation is provided both in Building 3 and Building 1 in mixed mode form to reduce energy usage. The scheme includes a reduction in car parking, the provision of 425 spaces for bicycles and 5 disabled car parking spaces. • The planning application was submitted with the full support of The Leathersellers' Company. • The scheme has been the subject of detailed consultation with the City of London and the Commission for Architecture and the Build Environment (CABE) and has been discussed with English Heritage, the Greater London Authority, St Ethelburga's Centre for Reconciliation and Peace and St Botolph's Without Bishopsgate. • Great Portland Estates plc (www.gpe.co.uk) is a central London property investment and development company with approximately £1.9 billion of properties under management which aims to deliver superior returns to shareholders through active asset management, the application of development skills to create value and the maximising of equity returns through efficient structuring and flexible financing. • BH2 and Knight Frank are development consultants. This information is provided by RNS The company news service from the London Stock Exchange