British Land announces it has committed to Phase two of Aldgate Place – a 136,000 sq ft residential led, mixed use scheme located on the City fringe. The scheme will include 159 premium Build to Rent apartments, 19,000 sq ft office space and 8,000 sq ft of retail and leisure space.
The design also includes a comprehensive upgrade to the public realm with increased biodiversity and a focus on health and wellbeing. Phase one of the scheme was completed in 2017 and includes 304 apartments and a 160 bedroom hotel. Works at Aldgate Place will start on site in Q3 2021.
“We are excited to commit to Phase two at Aldgate Place, our first Build to Rent development which will be an exceptional building in a thriving part of the City. This is another example of us executing against our strategy, exploiting our competitive strengths in development to deliver high quality space with a range of uses in excellent locations.”Simon Carter, CEO, British Land
Aldgate Place is located adjacent to Aldgate East and equidistant between Crossrail stations at Liverpool Street and Whitechapel. The scheme will benefit from excellent connectivity and its proximity to the City of London.
Embedded throughout the business, a sustainability strategy was set out in 2020 which focuses on two time-critical areas where British Land can create the most benefit: making its whole portfolio net zero carbon by 2030 and partnering to grow social value and wellbeing in the communities it operates in.
Aligned to its 2030 commitments, Aldgate Place will be a net zero carbon development with embodied carbon of around 620kg CO2e per sqm. The development will target BREEAM Excellent on the office space, Code for Sustainable Homes level four on the residential, and WiredScore Gold digital connectivity. Local procurement and employment is also a priority for the company, who has committed to providing ten paid apprenticeships.
In addition to the Aldgate Place Build to Rent apartments, British Land will also deliver between 2,000 and 4,000 homes as part of the flexible planning consent secured at Canada Water – its fourth London campus. The company has planning consent to deliver five million sq ft of residential, commercial, retail and community space over 53 acres.
The development of Aldgate Place brings total development commitments to more than 1m sq ft since November 2020, following recent commitments to 1 Broadgate and Norton Folgate.