Lendlease and LCR celebrated the ‘topping out’ of the new headquarters for the Financial Conduct Authority (FCA) at The international Quarter. The new building will accommodate more than 3,500 FCA employees from 2018.
A ceremony took place on the 27th January and was attended by Andrew Bailey, Chief Executive at FCA, Cllr Ken Clark, Newham Council’s Cabinet Member for Building Communities, Public Affairs, Regeneration and Planning, Jonathan Emery, Managing Director, Property Europe at Lendlease, Ben O’Rourke, Managing Director, International Quarter London at Lendlease, David Joy, Chief Executive at LCR and Ivan Harbour from architects, Rogers Stirk Harbour + Partners.
Andrew Bailey, Chief Executive at the FCA said:
“We are delighted to be leading the way in moving to the International Quarter in Stratford. This move marks the start of a new chapter for the FCA. Our new building will be purpose built to meet our needs, ensuring that we are well equipped to fulfil our large and complex remit and can continue to be an effective, flexible and modern regulator.”
The topping out of the 515,000 sq. ft. new building, acquired last year by Deutsche Asset Management for more than £370 million, marks the first in a series of key moments for the development in 2017. The second residential tower at Glasshouse Gardens is due for completion in May and over 3,000 Transport for London (TfL) employees are set to move into their new home in September. Once fully completed, the £2.4bn mixed-use development will house over 25,000 workers - making it one of the largest new commercial developments in Europe. Alongside the four million sq. ft. of commercial space, the site will feature shops, restaurants and cafés around a central public square.
The first phase of the retail and restaurant offer, totalling 15,000 sq. ft. of ground floor space at the FCA and TfL buildings, was recently launched to the market. Alongside Stratford’s vibrant cultural landscape and Olympic sporting facilities, the retail element is expected to be in high demand from a wide variety of occupiers, including independent and established brands.
Ben O’Rourke, Managing Director, International Quarter London at Lendlease, commented: “As we near completion of the first commercial buildings, our vision to create a thriving business destination is becoming a reality. Soon Stratford will offer an unrivalled working environment helping London’s progressive businesses and employees redefine the way they work. We’re eagerly looking forward to welcoming the FCA in 2018, as it becomes one of the first organisations in the capital to experience this fresh approach to working.”
Cllr Ken Clark, Newham Council’s Cabinet Member for Building Communities, Public Affairs, Regeneration and Planning added: “This topping out ceremony represents another step in the development of Stratford which is now the new heart of East London. We have fought hard to attract investment and ensure the right infrastructure is in place for a vibrant commercial hub and it is encouraging to see organisations like the FCA have seen the potential in Newham.
“This is all part of much wider regeneration across the borough. But for us regeneration has to make a real difference to our residents’ lives. Through our successful Workplace job brokerage service, we will work with the FCA and other employers to ensure local people are connected to new jobs and opportunities. We look forward to continuing to work with Lendlease, LCR and the FCA in the future and creating even more opportunities for our residents.”
David Joy, Chief Executive at LCR said: “The sense of momentum and progress at Stratford is tangible. International Quarter London will become a shining example of how we can bring transport connections, leisure, residential and business districts together to build a thriving community. We are delighted that the Financial Conduct Authority shares this vision.”
Lendlease and LCR have also secured planning approval for a 600,000 sq. ft. building offering office space for more than 7,000 employees and are in discussions with a number of other major tenants about moving to International Quarter London.