British Land Could Shelve London City Landmark

13 August 2008 (Last Updated August 13th, 2008 18:30)

UK-based developer British Land could shelve the development of the Leadenhall Tower in London's financial district, nicknamed the Cheesegrater. A drop in demand for office space and rising construction costs are behind the plans to delay the Richard Rogers-designed landmark.

UK-based developer British Land could shelve the development of the Leadenhall Tower in London's financial district, nicknamed the Cheesegrater.

A drop in demand for office space and rising construction costs are behind the plans to delay the Richard Rogers-designed landmark.

British Land said the building would be completed in 2012 when letting prospects should have improved, writes the BBC.

But according to a report by the Financial Times, British Land now lacks a clear timetable for the plans.

The wedge-shaped building would be the tallest tower in the City of London district, standing at 225m.

Demolition continues at the Cheesegrater site, between Lloyds of London and the Gherkin at 122 Leadenhall Street.

By staff writer