Real estate investment trust British Land (BLND.L) has agreed terms to pre-let of ten floors of the Leadenhall Building to Aon - known as the Cheese Grater.

The non-binding terms for the building - a joint venture with Oxford Properties - cover 191,000 sq ft and give the insurance company the option of a further 85,000 sq ft.

Construction of the 47-storey Leadenhall Building began in January and is scheduled for completion in mid-2014.
The building will serve as Aon's London headquarters and is located close to its existing offices.

Total development cost for the building is set to be around £340 million, and has seen both British Land contributing land valued at £90 million initially.

To receive more relevant articles like this one, why not sign up to our weekly newsletters, click here