Aviva Investors and Allianz Real Estate have entered a partnership for a massive ongoing development in the heart of the City of London.
The joint venture, 1 Liverpool Street and 101 Moorgate with a gross development value of around £500m, are central to the Crossrail development site in the Square Mile.
“London is one of the world’s most dynamic cities and one of the most important office markets,” said Kari Pitkin, head of business development in Europe at Allianz Real Estate.
“This development will result in two exceptional office buildings in London. We strategically picked the micro locations in the City of London with direct access to the Crossrail transport service as we continue to build up our London office portfolio.”
A stone’s throw away from the new Elizabeth line station at Liverpool Street station, 101 Moorgate will offer over 73,000 sq ft of office and retail space over its ground and six upper floors.
With plans to be carbon net-zero by 2050, the two sites are expected to be developed with environmental and sustainable credentials front-and-centre of their design.
“The scale of development we are undertaking at Liverpool Street and Moorgate signals our continued commitment to the city and its long-term prospects,” head of real estate investment at Aviva Investors, James Stevens added.
“This joint investment will deliver an exceptional example of our development strategy in action. We have set stringent sustainability targets, aiming to lower ongoing energy needs through use of efficient materials and specific performance targets. This will make 1 Liverpool Street and 101 Moorgate buildings of the highest quality for their occupants and a further facilitate a move towards a lower-carbon future.”