Lendlease and CPP Investments form London office development project

Lendlease and the Canada Pension Plan Investment Board have established a 50-50 joint venture partnership dedicated to the development of a new office-led neighborhood at International Quarter London (IQL).

This partnership further builds upon Lendlease and CPP Investments' existing joint ventures, which include established projects at Elephant Park in London, Barangaroo in Sydney, and the Milano Innovation District in Milan.

The partnership has initially committed to developing the Turing Building, allocating approximately £215 million (€253 million/$285 million) from the joint venture. The Turing Building is one of four major new office buildings planned for IQL; together they are expected to provide a total development area of 1.6 million square feet when fully developed, with an estimated gross development value of approximately £1.5 billion (€1.8 billion/$2.0 billion).

IQL is located at the gateway of the Queen Elizabeth Olympic Park and benefits from