Land Securities are committing to the £260 million development of 1 & 2 New Ludgate, EC4, an abstract mixed-use development of the City of London.

The scheme occupies an island site not far from the St Pauls Cathedral and comprises two distinct buildings united by a new public piazza. Together they offer exceptional work environments with 346,000 sq ft of highly efficient office accommodations set around generous open and green spaces.

It will consist of 33,000 sq ft of restaurant and retail facilities at ground and basement levels as well as improved pedestrian link and new public areas for anyone working, visiting and living in the area.

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Demolition work is already complete and Land Securities has appointed Skanska Construction UK Ltd as main contractor for the scheme. Construction will start on site in August with completion scheduled for April 2015.

1 & 2 New Ludgate is located where the capital’s financial, legal and professional worlds meet. It sits on a road, rail and underground crossroads making it easily accessible from all directions with a wide range of amenities on the doorstep.

It is 5 minutes' walk from Farringdon station, which will be the only station in London where Crossrail, Thameslink and London Underground all converge when current works complete in 2018. Around 140 trains per hour are expected to flow through the Farringdon interchange.

The decision to go ahead with 1 & 2 New Ludgate follows the announcement in May that Land Securities is committing to the next phase of its £2.2 billion redevelopment of Victoria in London’s West End, and demonstrates our confidence in the London office market.

(CR)