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Hammerson Purchase Shakes Up Northgate Plans

Existing plans for a tall building at Norton Folgate and a medium rise at Northgate on the border between Hackney and the City of London are officially off following the purchase of the Northgate site by property developer Hammerson subject to agreement by Hackney Council and has already made an agreement with Lehman Brothers over their previous option to occupy the site.

The purchase from Hackney is expected to come around 4.1 million with further monies paid on planning permission being successfully attained and the completed project leased which should prove a major money spinner for the borough.

The site which had an approved 56m tall building containing 49,917 square metres of office space designed by Siddell Gibson is particularly prized because its proximity to the uber-successful Broadgate Estate sitting literally next door to the approved Broadgate Tower, and the fact that it neighbours the planned Bishopsgate Station for the East London Line.

Along with Norton Folgate which Hammerson aquired in 2002 when they purchased Railtracks property portfolio, it will form a substantial site allowing them to work up a major mixed development. The Norton Folgate Tower was office accommodation of 23,634 sq m designed by Kohn Pedersen Fox reaching 108 metres over its 24 floors.

The combined plans by Hammerson aim for a total of 79,000 sq m mixed-use scheme, which will include 43,000 sq m of office accommodation, plus what will no doubt be a highly prized residential aspect, hotel accomodation and public spaces.

It won't be short but there'll definitely be nothing major here piercing the skyline, not least given the relatively large size of the site compared to what they will sit in it.

No architect has yet been officially appointed but it not too much time will pass before we here more on this one.

Article Related buildings:

Northgate

Northgate
Norton Folgate Tower

Norton Folgate Tower
Broadgate Tower

Broadgate Tower