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British Land set to start building 'Cheesegrater'

By Daily Mail Reporter
Updated: 03:40 EDT, 23 December 2010

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A futuristic skyscraper will be built in London after developer British Land sealed a deal to start building work early next year.

The 47-storey Leadenhall Building — dubbed the Cheesegrater because of its distinctive shape — will stand 736ft tall in the heart of the Square Mile when it is completed in 2014.

British Land (up 7p to 529.5p) gave the green light for work to begin on the £340m development after it agreed a partnership with Oxford Properties Group, the property arm of the Ontario Pension Fund.

It will dominate the London skyline along with other new buildings including the Shard of Glass and the Walkie Talkie tower.

Many new schemes were put on hold during the recession when property prices crashed and demand for new office space evaporated.

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