INDUSTRY NEWS

A plan to redevelop a new investment quarter gets the green light

 Plans to redevelop a new Broadgate HQ for investment have been given the green light after 700,000 committee members voted unanimously in favour of the scheme.

The scheme designed by architect Ken Shuttleworth will see essential London office space at 4 and 6 Broadgate demolished and rebuilt.

Peter Rees, City planning officer, said: “The plans approved for 5 Broadgate demonstrate the adaptability of the original development concept and the vision of its architect, Peter Foggo. Broadgate is defined by the quality of its open spaces which have been critical to its lasting appeal amongst the City community.

“The City of London works hard to ensure that new developments represent the best of contemporary architecture while respecting our cherished network of alleys and open spaces – the gossip channels of the Square Mile – 5 Broadgate succeeds on both counts.”

Development is believed to be costing in the region of £340 million and has not met approval by everyone. It is estimated that the work should be partially completed by 2014.

Commercial property news brought to you direct from DeVono Cresa, experts on London office space.

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