THE BT CENTRE
81 NEWGATE STREET, LONDON CONTENTS Contact Further Information Development Potential Refurbishment & Tenure& Tenancy The BTCentre Connectivity Major LocalLandmarks Location Investment Summary 50-57 42-49 34-41 20-33 18-19 16-17 6-15 2-5 58 THE BT CENTRE 3
The BT Centre represents one of the most significant generational development opportunities in Central London
A rare and truly unique development opportunity, which has been the home of BT for 150 years, opposite the iconic St Paul’s Cathedral.
Substantial freehold island site comprising 1.6 acres (0.65 hectares).
Benefitting from exceptional connectivity, the BT Centre is located directly opposite St Paul’s underground station and is a short walk from Farringdon, where the Elizabeth Line (Crossrail) is due to open in 2019.
Originally developed in 1984 as the headquarters of BT Plc, the building provides an existing net internal area of 302,265 sq ft (28,081.0 sq m), with a gross internal area of 515,648 sq ft (47,905.1 sq m).
The building is arranged over two basement levels, ground and nine upper floors, with floor plates ranging from 13,811 sq ft (1,283.0 sq m) to 35,193 sq ft (3,269.5 sq m), centred around a full height atrium.
Occupying an unobscured island site, the property benefits from excellent levels of natural light and prominent sight lines, along with unique 360 degree views across Central London.
The property will be subject to a 30 month leaseback INVESTMENT INVESTMENT SUMMARY to British Telecommunications Plc at an annual rent to be agreed between BT and the purchaser.
Initial feasibility studies have been undertaken by a professional team led by Sheppard Robson Architects, with a number of options to reposition the building via major refurbishment or full-scale redevelopment (subject to the normal consents), with the potential to increase the NIA by c. 75% to circa 527,326 sq ft (48,991 sq m).
Offers are invited, subject to contract and exclusive of VAT, for the freehold interest in the property. Moorgate
Barbican Station THE BT CENTRE 5
Current Museum of London
Guildhall
Gresham Street
Bank of America Merrill Lynch
St Paul’s Cheapside Underground Station
One New Change
St Paul’s Cathedral
Paternoster Square A 1.6 ACRE FREEHOLD ACRE FREEHOLD A 1.6 ISLAND SITE
LOCATION 1/3 22% London accounts for 22% of the UK’s GDP London houses over 1/3 of and is firmly established as the world’s $Europe’s Tech Unicorns (businesses primary market for foreign exchange valued at over $1 billion). derivatives and energy futures.
40M FOUR London’s top 10 tourist attractions There are four UNESCO World Heritage sites located were visited by 40 million in London – the most of any city in the world. tourists in 2017. 33% 300 Over 33% of the European HQ’s of Over 300 languages are spoken in London Global Fortune 500 companies are – the most of any city in the world. based in London.
London remains the pre-eminent global gateway SIX London is the world’s busiest airport hub, city - a hub for commerce, served by six international airports and handling more than 1 billion flights a year culture and tourism. to nearly 400 destinations.
£2.45BN In 2017 venture capital investment into the London tech sector reached an all-time high of £2.45 billion - the highest of any European city. LONDON 11 EAST VIEW 13 WEST VIEW international investorsandadiverserangeofoccupiers.international vibrant locationisoneofthemosthighlysoughtafterinLondonbyboth of CentralLondon, directlyoppositeStPaul’s Cathedral. This dynamicand The BTCentreoccupiesahighlyprominentfreeholdislandsiteintheheart LOCATION THE BTCENTRE Smithfield CGI ofproposed newMuseumofLondon at Smithfield Paternoster Square The Millennium Bridge opposite TheBTCentre. and BankofAmericaMerrillLynch, whichislocateddirectly the headquartersofGoldmanSachs,HoganLovells,Deloitte as amagnetformajorglobaloccupiercampuses,including and UKCommercial Courts.Thisarea hasestablished itself home totheOldBailey, RoyalCourtsofJustice, InnsofCourt To thewestliesLondon’s traditionallegaldistrict,whichis exceptional amenityforlocaloffice occupiers. an enviableselectionofshops,barsandrestaurants, providing Squarethe LondonStockExchange.Paternoster alsooffers the Estateiscentred around asquare piazzaandishometo Developed in2003byMitsubishiEstateCo.andStanhopePlc, Adjacent toStPaul’s Square. CathedralisPaternoster landmarks inEurope, attractingover1.5millionvisitorsin2017. was completedin1710andisnowoneofthemosticonic years. Thecurrent SirChristopherWren designediteration The sitehasbeenhometoacathedralforover1,400 Directly tothesouthofbuildingliesStPaul’s Cathedral. landscape-defining Eastern Tower Cluster. of England,RoyalExchange,Guildhall,MansionHouseandthe many oftheCity’s mosticoniclandmarks,includingtheBank eastwards alongCheapsideandGresham Street leadsto sits directly tothesouth-eastofTheBTCentre. Ashortwalk City ofLondon’s onlypurpose-builtshoppingcentre –which and bars.ThisiscomplementedbyOneNewChange–the the City, boastingamultitudeofshops,cafés,restaurants Cheapside itselfisthemostsignificant retail destinationin in theCity, rundirectlyeastwardsfromthebuilding. Cheapside andGreshamStreet, twoofthemost distinguishedaddresses 1,900 peopleinthemainhall. Rattle’s LondonSymphonyOrchestra andwillaccommodate concert andperformancevenuewillbethehomeofSirSimon for anew£250millionCentre forMusic.Thisnewworld-class Museum ofLondononWall, proposals are inplace Just tothenorthofTheBTCentre onthesiteofcurrent position asagenuineculturaldestination. Museum willreposition Smithfield Marketandcementthearea’s million ayear. Duetoopenitsdoorsthepublicin2022, Museum visitorattendanceisanticipatedtodoubleovertwo which formsthekeystoneofCity’s Culture MileProgramme. have pledged£180milliontowards the£250millionproject, The CityofLondonCorporationandtheMayor House) andtheEngineHouse. The Annexe (FishMarketandRed occupying theGeneralMarket, home oftheMuseumLondon, is proposedtobecomethenew hub. Smithfield GeneralMarket City ofLondon’s principalcultural This areaisalsosettobecomethe the world’s mostfashionablebarsandhotels. leisure scenewithMichelin-starred restaurants andsomeof telecommunications sectors,thearea alsoboastsadynamic mix ofoccupierslargelyfrom thetechnology, mediaand Already anestablishedoffice location,attractingadiverse The ElizabethLineatthenearbyFarringdonStationin2019. its resurgence catalysedinpartbytheplannedopeningof of themostfashionableandvibrantdistrictsincapital,with A shortwalktothenorthliesSmithfieldandClerkenwell–one 15 Angel N King’s Cross St. Pancras THEBT CENTRE BT CENTRE 17
White Collar Factory Old Street
THE BT CENTRE Shoreditch High Street
Farringdon East Farringdon Barbican 8 Smith eld Market 12 Chancery Lane Moorgate Liverpool Street 10 The Leadenhall Building 7 City Thameslink 11 2 (North Entrance) 9 Tower 42 5 Royal Exchange Guildhall St Paul’s St Paul’s Lloyd’s of London Cathedral 3 6 City Thameslink 1 Bank of England 30 St Mary Axe Bank
4 Mansion House Blackfriars 20 Fenchurch Street Temple Cannon Street Monument
Tate Modern
The Shard
London Bridge
WaterlooMAJOR LOCAL LANDMARKS Angel N King’s Cross St. Pancras
White Collar Factory Old Street
8 SMITHFIELD GENERAL 2 1 NEW STREET THE BT CENTRE 7 PLUMTREE COURT, Shoreditch High Street MARKET, EC1 SQUARE, EC4 EC4 The site is set to become the new home 1 ST PAUL’S The 270,000 sq ft estate, developed by Due to complete in 2019, the new 840,000 sq ft of the Museum of London, comprising Landsec, is the London HQ of global Farringdon East office development will be the new London HQ c.175,000 sq ft of exhibition space and CATHEDRAL, EC4 accountants Deloitte LLP. of Goldman Sachs. housing 6 million items. The new museum Farringdon is due to open its doors in 2022. Built in 1710 and designed by Sir Christopher Barbican Wren, St Paul’s is one of the most iconic 8 Smith eld Market landmarks in Europe. 12 Chancery Lane Moorgate Liverpool Street 10 The Leadenhall Building 7 City Thameslink 11 2 (North Entrance) 9 Tower 42 5 Royal Exchange Guildhall St Paul’s St Paul’s Lloyd’s of London 10 THE LONDON Cathedral 3 6 City Thameslink 1 Bank of England 30 St Mary Axe SYMPHONY ORCHESTRA 4 BLOOMBERG PLACE, Bank HALL, EC2 EC4 9 THE OLD BAILEY, EC4 3 ONE NEW CHANGE, EC4 New York architects Diller Scofidio + Renfro The 3.2 acre site is the new London HQ 4 The Old Bailey is London’s Central Criminal have been appointed on the design of Sir The 560,000 sq ft Landsec development is the of Bloomberg LP, with c.763,000 sq ft of Mansion House Court, with the first medieval courts dating Simon Rattle’s London Symphony Orchestra City of London’s only purpose-built shopping office, retail and leisure accommodation. The Blackfriars back to 1585. Hall, with planning expected to be submitted by centre and is host to a wide variety of retailers development incorporates a new food and retail 20 Fenchurch Street December 2018. With a budget of £250 million, and eateries. destination under a covered arcade and a new Temple Cannon Street the new concert hall on the site of the current entrance to Bank underground station. Monument Museum of London will form a key part of the Culture Mile, linking the Barbican to the new Museum of London.
Tate Modern
5 PATERNOSTER 12 1 & 2 LONDON WALL 11 2 KING EDWARD SQUARE, EC4 6 THE NED, EC2 The Shard PLACE, EC2 STREET, EC1 Developed in 2003 by Mitsubishi Estate Co. The Luytens-designed former Midland Bank The new Brookfield and Oxford Properties and Stanhope Plc, the mixed-use estate is home HQ has been converted by Soho House Group London Bridge Directly to the west of The BT Centre, 2 King scheme comprises two Grade A office buildings to office occupiers including the London Stock and Sydell Group to provide a 252-bedroom Edward Street is the 585,000 sq ft London of 310,000 and 190,000 sq ft respectively, with Exchange, along with a wealth of retail and hotel, a members’ bar and nine restaurants, HQ of Bank of America Merrill Lynch, covering significant pre-lets agreed to Schroders and leisure amenity. bars and cafés. a 1.3 acre site. Cleary Gottlieb. Waterloo THE BT CENTRE 19
The BT Centre benefits from The Elizabeth Line
exceptional connectivity via eight key Connectivity to The BT Centre will be further enhanced by the delivery of the transport nodes all within a 10 minute Elizabeth Line at the nearby Farringdon walk of the building. These stations Station, with services due to commence in 2019. The Elizabeth Line is a new provide connections to eight different high-speed rail link running underneath Central London, connecting Reading London underground lines, along with and Heathrow in the west to Canary Wharf and Shenfield in the east, which major mainline rail networks. H will revolutionise London’s transport infrastructure, particularly for those areas close to the new stations.
Farringdon Station Eastern Ticket Hall - Elizabeth Line Upon completion, The Elizabeth line T will serve 41 stations and Farringdon will be the only station providing a C major interchange between Crossrail, Thameslink, London Underground and National Rail services and is projected to B E become one of the busiest transport hubs in Britain. B E B 8 mins Farringdon 10 mins 2 mins
T H B C R 31 mins 4 mins 2 mins C T