Henderson Wins Approval for London Smithfield Market PlanPatrick Gower
Henderson Global Investors Ltd., the manager of $104 billion in assets, won local-government approval to develop part of Smithfield Market in the City of London financial district into offices, shops and restaurants.
The 160 million-pound ($240-million) project will include 16,260 square meters (175,000 square feet) of offices and 5,570 square meters of shops, London-based Henderson said in a statement published on its website in May. The market is a third of a mile from the site on which Goldman Sachs Group Inc. affiliates will develop an office building and adjacent to Farringdon Station.
Henderson is seeking to profit from the construction of the Crossrail high-speed subway line connecting London’s east and west. Farringdon will become one of Britain’s busiest train stations when the rail line opens, according to Crossrail.
Most of the site’s Victorian buildings and all of the former fish market will be retained, according to the statement.
Henderson is one of Europe’s largest investment managers with about 69 billion pounds of assets under management as of March 31, according to the company’s website.
-- With assistance from Neil Callanan in London. Editors: Jeff St.Onge, Ross Larsen.