Ivanhoé Cambridge forms development JV with Allianz Real Estate

Ivanhoé Cambridge has begun the redevelopment of Stonecutter Court in London, to create a next-generation office space in response to occupier needs, and to deliver an environment to foster and support the talent attraction and retention strategies of its customers.

In addition, subject to usual antitrust clearance, Ivanhoé Cambridge will be partnering with Allianz Real Estate, acting on behalf of Allianz, in a new 50-50 joint venture. The collaboration will see both partners deliver the next generation of London offices. Following redevelopment, the new building will be among the best in class globally and will attract occupiers seeking high-quality, experiential as well as flexible office space.

Ivanhoé Cambridge has secured the first major pre-lease with a U.K. law firm, Travers Smith. Travers Smith is committing to a lease duration of 15 years on 158,000 square feet. The move is scheduled for the first quarter of 2025.

Stonecutter Court is situated in one