Land Securities is currently in discussions with the Canada Pension Plan Investment Board (CPPIB) about its Victoria Circle development.
According to CoStar News, the commercial property company is looking to form a 50:50 joint venture with the organisation for the mixed-use scheme that will include new London offices
CPPIB could pay approximately £150 million for a share of the project. The property publication noted the firm was selected over other funding partners from North America.
Under the proposals for Victoria Circle, SW1, there would be one million sq ft of space including more than 200,000 sq ft of London offices
, residential units and retail facilities.
Principal occupiers include the central government, Sainsbury's, The Grosvenor Hotel and Citibase.
Land Securities' managing director of the London portfolio Rob Noel previously told CoStar News: "We have finalised the planning consent for the demolition of the one listed building that sits in the middle of the site, so we are now good to go."
Posted by John Evans
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