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Looks like CWG is branching out into the city & it doesn't look like they will necessarily be building tall as this are is between smithfields & Barbican so it wont be tall if they choose to re-develop. They will have quite a land bank when you consider RS , NQ, Wood wharf & the buildings around chruchill place stiil to develop.

From freemansnews

Canary Wharf in £200m deal to acquire Aldersgate Building in London

LONDON (AFX) - Songbird Estates plc said its Canary Wharf unit has concluded a £200m plus deal to acquire leaseholds in properties in the City of London from Resolution London City.

Canary Wharf has acquired the leasehold interests in 200 and 202 Aldersgate Street (the Aldersgate Building) and 20 Little Britain, which together measure 474,000 square feet.

Canary Wharf is paying £52.2m for the properties as well as taking on £154.1m of loans that expire in 2011.

The Aldersgate Building is currently let to Canary Wharf until March 2017 at an annual rent of £22.6m.
 

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This should not compromise large-scale schemes they are committed to develop. They made it clear they want to diversify their portfolio and expand outside the Docklands to be less sensitive to their core set of clients. Note also that Clifford moved out of Aldersgate to take more office space at CW.
 

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I suspect Canary Wharf will actually do nothing with this building. It's the same thing that they did with Reuters.

Basically, they did a deal which meant that CW would take over the existing leases/buy the existing building of a big new tenant (with Aldersgate Clifford Chance, with Reuters Building, um Reuters).

This means that the new tenants can move to the 'core' estate without having to worry about their old site.

Canary Wharf then look into disposing the old site - with the Reuters building in Fleet St they've already sold it to someone else. I suspect they'll just do the same with Aldersgate.
 
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