Planning Permission for City of London Office Scheme
A mixed use scheme that will introduce 347,000 sq ft of Grade A office space to the City of London has recently secured planning permission.
Developer Land Securities has secured approval from the council for its plans to replace two 1960s properties on Old Bailey and Ludgate Hill, and introduce new high quality office space along with restaurants, retail outlets, improved pedestrian links and new public areas.
Designed by German architects Sauerbruch Hutton, the proposal for the Old Bailey building involves nine floors of prime office space covering a massive 195,000 sq ft in total, along with two open terraces on the ninth floor with views over the Old Bailey and to St Paul’s Cathedral.
The Ludgate Hill plans have been designed by London-based architects Fletcher Priest. The property will introduce 152,000 sq ft of office space spread over eight floors, combined with a further 25,000 sq ft of retail space and restaurants. The fifth floor will provide a large private outdoor terrace with views of St Paul’s Cathedral.
A new pedestrian thoroughfare also forms part of the Ludgate Hill design.
Colette O’Shea, Head of Development for Land Securities’ London Portfolio, said:
“We were the first to re-start a major development programme after the downturn, anticipating supply constrained conditions, and this is the latest part of our clear plan to deliver over two million sq ft of new space by April 2014.”
Land Securities have earmarked December 2013 as the launch date, which they say will coincide with “relatively few” development completions in the City.
Find out more about office space in the City of London online at officebroker.com.