CONSTRUCTION work has restarted on the Cheesegrater tower on Leadenhall Street after developers British Land and Oxford Properties agreed to fund the £340m project as a joint venture.
The 47-storey tower, officially named the Leadenhall Building, was shelved in 2008 amid uncertainty in the London property market.
Builders returned to the site yesterday to restart work on the foundations of the tower, with completion due in 2014.
The Cheesegrater will stand 736ft (224m) high with around 610,000 square feet of available office and retail space.
“The Leadenhall Building ... will complete at a time when we believe strong demand and supply constraints will coincide,” said British Land’s head of development Nigel Webb, adding that several potential tenants have already expressed an interest in the tower.