British Land, OMERS Agree to Build London Skyscraper
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British Land Co., the U.K.’s second-largest real estate investment trust, and the property arm of Canada’s Ontario Municipal Employees Retirement System completed a joint-venture agreement to build a 47-story office tower in London.
The Leadenhall Building, known as the Cheesegrater because of its shape, will be completed in mid-2014 at a cost of 340 million pounds ($526 million), British Land and Toronto-based partner Oxford Properties Group Inc. said in a statement today. The Richard Rogers-designed building will be built in the City of London financial district.