Land Securities plans Moorgate development in new City move

LAND SECURITIES has eyed a new City development as it nears completion of its flagship projects in the Square Mile.

Britain’s biggest listed landlord by market capitalisation is believed to be the front-runner to secure the deed to 21 Moorfields, above Moorgate underground station.

Land Securities is looking to expand its portfolio in the City with its Walkie Talkie building in Fenchurch Street, due to complete in 2014, and the One New Change shopping centre near St Paul’s, which opened in late 2010.

The company wants to rip up plans for the development of the site, which was put into administration in 2010, although construction cannot start on the project until at least 2016, when Crossrail’s work on the station is completed.

Previous owners Moises and Mendi Gertner had submitted proposals for a 13-storey building designed by architects Foster + Partners.