One New Change opens in the City
Published: 28 October, 2010
Land Securities has unveiled its City of London retail and office development One New Change with a host of music and events.
Midday saw the official opening of the £540m scheme, designed by world-class architect Jean Nouvel, overlooking St. Paul’s cathedral. The 3-floor shopping centre has 58 units totalling 22,000 sq ft of retail space with offices above.
Retailers include Topshop, H&M, Reiss, Dune, Swarovski, Hobbs and All Saints with restaurants by Gordon Ramsay and Jamie Oliver and chains Nando's, Sumo, Byron and Zizzi.
The mall is the first major retail development in the City which has 10,000 residents and 320,000 workers pouring into the Square Mile on weekdays.
Kathrin Hersel, development manager for Land Securities’ London portfolio, said: “This is a very emotional day – it’s been seven years in the planning and it’s amazing to see the shops open.
“One New Change is in the heart of the City and it’s at the forefront of the regeneration of Cheapside. The area desperately needed more shops – now City workers have something more to do in their lunch hour.”
David Kenningham, executive director of CB Richard Ellis, joint letting agents for the scheme, added: “One New Change is brilliant and bold and will create a new focus for the City.
“The City posed challenges for retailers but once they understood the market they were excited and the centre is now 98 per cent let. I think retailers will be very surprised at how well they do here.”
Chart-topping band The Hoosiers kicked off proceedings with performances from the London Symphony Orchestra's Brass Ensemble, new girl band High on Heels and renowned DJ Kelly Marie following throughout the day.
