CLI Dartriver buys City of London development sites
CLI Dartriver has completed two development site acquisitions in the City of London, which are expected to deliver more than 100,000 sq ft of new space in the capital.
The firm, launched last year, has completed on a freehold development purchase at 63 Coleman Street, EC2, and 35-39 Moorgate, EC3.
The site consists of three vacant buildings with frontages to Coleman Street and Moorgate, with existing planning consent for 39,138 sq ft of new-build office and retail space. However, CLI plans to submit a revised planning application, with a view to starting works this year.
CLI Dartriver has completed two development site acquisitions in the City of London, which are expected to deliver more than 100,000 sq ft of new space in the capital.
The firm, launched last year, has completed on a freehold development purchase at 63 Coleman Street, EC2, and 35-39 Moorgate, EC3.
The site consists of three vacant buildings with frontages to Coleman Street and Moorgate, with existing planning consent for 39,138 sq ft of new-build office and retail space. However, CLI plans to submit a revised planning application, with a view to starting works this year.
The business has also completed the acquisition of a new 160-year headlease on Liberty Place at Norton Folgate, E1. The site has planning consent for a 62,685 sq ft grade-A, nine-storey office and retail development at the intersection of the City core and Spitalfields.
Following submission of a revised planning application, the scheme is expected to start on site this year, with delivery in early 2023.
Thompson said: “These two acquisitions continue our strategy of investing into value accretive, grade-A opportunities in core locations across London.
“Taking into account future capital expenditure, they bring our investment commitments to in excess of £170m, and we are planning further activity.”
He added that CLI Dartriver is aiming to grow its investment activities this year. “Despite the short-term challenges for the London economy and the uncertainty as we emerge from lockdown, our strategy is to invest over the long term into high-quality opportunities,” said Thompson.
“We’re excited about the prospect of expanding our investment activities as the market opens up later this year. In anticipation of this, we will be growing our team with new hires to provide the additional expertise that our expanding investment and development programme will require.”
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
