Aviva Investors has completed its acquisition of 101 Moorgate, in the City of London, EC2, from Transport for London.
It has acquired the long leasehold to create a mixed-use scheme above Crossrail infrastructure and opposite the new Crossrail Liverpool Street Station western entrance.
Development will comprise 51,000 sq ft of offices and more than 2,500 sq ft of shops across the ground floor and six upper floors.
Offices are expected to be around 9,000 sq ft, with completion expected in 2022.
The acquisition was made with proceeds from Aviva Investors’ sale of 4 Matthew Parker Street, SW1.
James Stevens, head of development, global real estate, at Aviva Investors, said: “Moorgate is at the epicentre of a rapidly changing urban landscape and sits at a unique confluence between historic submarkets.”
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.
“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.”
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