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City of London Development Project Progressing Smoothly
Work Begins on “1 Angel Court,” a top quality cutting-edge tower building
in the center of the City of London

December 10, 2014
Mitsui Fudosan Co., Ltd.

Mitsui Fudosan Co., Ltd. (Head Office: 1-1, Nihonbashi-Muromachi 2-chome, Chuo-ku, Tokyo) announced today that through its subsidiary, Mitsui Fudosan (U.K.) Ltd., it has started work on the new cutting-edge tower building, “1 Angel Court,” in the heart of the City of London, a global financial center. Completion is scheduled for September 2016.

The property benefits from excellent transportation access, being two minutes’ walk from Bank Station on the underground. Urban development regulations limit the number of tall buildings, making the 27-storey property a rare tower building within the City, with sweeping panoramic views including St. Paul’s Cathedral. Lower floors from the second through to the seventh floors are single floors of 22,000 ft2 (approx. 2,043m2), a large-scale floor plate rarely found in the City.

Also in the City is the 70 Mark Lane Development, an office building development whose construction was completed in November. This property is in the insurance district of the City of London, which is home to the Lloyd's insurance market, among other insurance-related institutions, and adjacent to Fenchurch Street Station. The terraces located on the upper floors offers views including the Thames River and London Bridge.

The completion of construction on 70 Mark Lane marks the third project completion on properties Mitsui Fudosan owns in London after 5 Hanover Square (completed in March 2012) and 8-10 Moorgate (completed in May 2014).
Leading European financial institutions have also become anchor tenants with long-term rental contracts concluded with major Swiss insurance company Zurich Insurance Group at 70 Mark Lane and major Dutch banking group ING at 8-10 Moorgate. Upon completion of “1 Angel Court,” Mitsui Fudosan will have about 700,000 ft2 (approx. 65,000 m2) of office rental space in London, around double its current size. These projects are all moving ahead in conjunction with Stanhope plc, a prominent local real estate developer.

Aerial photograph of the City of London

The Mitsui Fudosan Group is actively developing its overseas operations as one of its global initiatives called for in its Innovation 2017 business plan. In Europe and the U.S., the Group will work in the multi-use development business including for offices and residential leasing in several cities, as it works to expand and enhance its high-quality portfolio. In Asia, the Group will focus on the property sales business, where demand is growing in tandem with economic expansion and urbanization, and the retail facility business, which will benefit from growing private consumption. As regards overseas business, Innovation 2017 calls for Mitsui Fudosan to make investments of approximately ¥500 billion by fiscal 2017 in overseas operations.

Conceptual images or photos of each completed building

“1 Angel Court”

Perspective drawing
“70 Mark Lane”

Perspective drawing
“8-10 Moorgate”

Business Overview of “1 Angel Court”

Name 1 Angel Court
Address 1 Angel Court, London EC2
Site area 42,253 ft 2 (approx. 3,925 m2)
Building use Offices, stores
Rentable floor space 315,974 ft 2 (approx. 29,353 m2)
Standard floor area:
Lower floors: approx. 22,000 ft2 (approx. 2,043 m2)
Upper floors: approx. 8,740 ft2 (approx. 811 m2)
Structure 27 floors above ground, 2 floors below ground
Schedule September 2016 Completion

Overview of 70 Mark Lane

Name 70 Mark Lane
Address 70 Mark Lane, London EC3
Site area 17,907 ft2 (approx. 1,663 m2)
Building use Offices, stores
Rentable floor space 176,678 ft2 (approx. 16,413 m2)
Structure 16 floors above ground, 1 floor below ground
Schedule November 2014 Completion

Overview of 8-10 Moorgate

Name 8-10 Moorgate
Address 8-10 Moorgate, London EC2
Site area 21,956 ft2 (approx. 2,040 m2)
Building use Offices, stores
Rentable floor space Approx. 130,306 ft2 (approx. 12,105 m2)
Structure 9 floors above ground, 1 floor below ground
Schedule May 2014 Completion


Click map to enlarge

Other Business Developments in London

1) 5 Hanover Square (2012 Completion)

Address 5 Hanover Square, London W1
Site area 12,077 ft2 (approx. 1,121 m2)
Rentable floor space 63,309 ft2 (approx. 5,881 m2)
Structure 7 floors above ground,
1 floor below ground
Building use Offices, stores and residences

5 Hanover Square exterior

2) BBC Development Plan

Address BBC Television Centre
Wood Lane, London
Year Acquired 2012
Remarks Currently undergoing development concept planning