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Funding has been secured for a new environmentally-friendly 23 storey office block at Canary Wharf, London.
Barclays, Deutsche Pfandbriefbank, Lloyds TSB and The Royal Bank of Scotland have provided the Canary Wharf Group with a £190million development and investment loan for the project at 25 Churchill Place.
The group is aiming to reduce CO2 emissions by 30 to 35 per cent with the new building and hopes to achieve the Building Research Establishment's highest BREEAM (British Research Establishment Environmental Assessment Method) rating of 'Excellent'.
"The building of 25 Churchill Place is a symbolic milestone as it completes the development of the original Canary Wharf master plan," the group said.
"25 Churchill Place will be one of the most energy efficient office buildings on the Canary Wharf Estate to date," it added.
The project, timetabled for completion in 2014, should provide jobs for 1,000 construction workers, plus thousands of indirect roles.
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