In a statement at the MIPIM property show in Cannes, France, they announced that they have obtained consent for the building. It consists of 5,500 sf on the ground floor and 3,000 sf in the basement. The three upper floors consist of 35,500 sf of offices.
On site now, they expect building to complete in May 2003. Sainsbury's is paying an undsclosed rent.
PMG director James Bowdidge commented: 'It's quite a coup to get Sainsbury's first City store.'
PMG is also involved in a joint venture with developer Abacus to construct a seven-storey office and retail scheme at 111 Cannon Street. It will be designed by architect Hamilton Associates.
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