London - EC3
EC3 in the City of London is home to the historic, internationally renowned insurance and finance district and is fast becoming one of the most dynamic areas in the City. Map of EC3
Bordered by Tower Hill in the East and Monument in the west, it is home to globally recognised landmarks, including the Tower of London and the Monument to the Great Fire of London.
An outstanding feature of the EC3 office market is the growth in its number of office towers, usually known by their nicknames! These include Land Securities/Canary Wharf Group’s 20 Fenchurch Street (aka The Walkie Talkie), The Leadenhall Building (aka The Cheesegrater, headquarters to insurance giant AON and recently bought by CC Land for £1.15billion!). The renowned “Gherkin” in St Mary Axe is home to SwissRE whilst the development pipeline includes AXA: 22 Bishopsgate including 1.2 million sq ft of office and amenities space. Brookfield has enjoyed remarkable pre letting success of its 950,000 sq ft 100 Bishopsgate to Jefferies Bank Royal Bank of Canada and Freshfields Bruckhaus Deringer. TH Henderson’s under construction new build in St Mary Axe has been labelled the Can of Ham for its unique elliptical shape.
This cluster of towers is partly as a result of the site assembly activities over many tears by major developers. It also falls outside some of the more severe restrictions of St Pauls height lines; which limits the scale of towers in EC2 and EC4.
EC3 is home to many major insurance/financial occupiers, including AIG, Aviva, AXA, Hiscox, QBE, Royal London, SwissRE, Willis Towers Watson, Vanquis Bank and Zurich Insurance Group. Other professional neighbouring occupiers include Clyde & Co LLP, DWF LLP, Latham & Watkins LLP, Northern & Shell, Vinson & Elkins LLP and XL Catlin.
The area has recently become attractive to retail occupiers, with House of Fraser, Newlook, Marks & Spencer, GAP and TK Maxx operating stores. The Royal Exchange provides a dining and shopping destination, home to a range of restaurants and retailers such as Hermés, Louis Vuitton, Lulu Guinness, Montblanc, Penhaligon’s and Tiffany & Co.
Leadenhall Market is at the heart of EC3, dating back to the 14th century and is one of the oldest markets in London. Attracting City workers and tourists, it provides a mix of restaurants, bars and shops.
There are plenty of hotels situated in EC3, including the Club Quarters Hotel Gracechurch and the Motel One Minories. CitizenM Tower Hill opened in summer 2016, which is conveniently located above Tower Hill station.
Transport links in EC3 are various, with underground services from Bank (Central, DLR, Northern, Waterloo & City lines), Monument (Circle & District lines) and Aldgate (Circle & Metropolitan lines) providing regular services. Fenchurch Street station provides mainline services to Essex.
BBG has a plethora of clients in EC3, including AIR Worldwide, Verisk, Lark Insurance and Harmonic Capital Partners and has a wealth of experience in advising landlords and tenants in EC3.
To find out more or discuss London office property please call us on 020 3713 1950.