Overall, London Millharbour will provide 764,000 sf of offices and 29,000 sf of retail and restaurant space, designed by architect Sir Michael Hopkins. Site clearance has already started, and construction will begin early in 2002 with completion of the first phase of 460,000 sf expected in 2004.

Michael Smith, Senior Vice President of Pembroke Real Estate, told GlobeSt.com that Fidelity intended to occupy 150,000 sf of the first phase itself, but that negotiations were already under way with several occupiers interested in taking blocks of 100,000 sf-plus in the speculative element of the building.

Agent Insignia Richard Ellis will be quoting rents of around £35 ($51) per sf, which represents a discount of about £10 ($14.70) per sf to rents now being achieved in the Canary Wharf estate.