Agenda item

To approve the public minutes and summary of the Property Investment Board meeting held on 25 March 2015.

RESOLVED – That the public minutes and non-public summary of the meeting held on 25 March 2015 be approved.

Matters Arising

Barts Square, EC1

The Board received a presentation from Helical Bar regarding the proposed development scheme at Barts Square, EC1. Members were provided with the following details:

·         The 3.2 acre mixed use development site was acquired jointly with the Baupost Group from the Barts and the London Charity in March 2011.

·         The planning application was submitted to the City of London Corporation in February 2012 and it was approved by the Planning and Transportation Committee in November 2012.

·         The development scheme comprised 236 high quality apartments and 23,000 sq. ft. of complementary retail, restaurant and café use across 19 buildings, including 249,000 sq. ft. of office space across three buildings.

·         Phase one of the £470 million scheme commenced in September 2014 and the final Phase three was expected to be completed in Quarter one 2019.

·         The price achieved for residential units was £16 per sq. ft. and for office units was £70 per sq. ft.