INDUSTRY NEWS

Derwent apply for planning permission to create new London office space

In a collaboration, Derwent London and Crossrail Limited have applied for planning permission to create new London office space.

The planning permission for 1 Oxford Street, will, if successful, see the companies create 27,000 sq ft of office space located above a 34,000 sq ft theatre – capable of seating 350 people.

Also forming part of Derwent London and Crossrail Limited’s scheme, the office space and theatre will be accompanied by a larger building – spread across eight floors – that will provide a total of 177,000 sq ft of office space and 37,000 sq ft of retail space; this building will be situated on the corner of Oxford Street and Charing Cross Road.

Chief Executive for Derwent London, John Burns, commented on the application.

He said: “This planning application is an important step in the much-needed revitalization of the eastern end of Oxford Street and is essential for the long-term growth of Fitzrovia and Soho.

“These are important villages for both London and the Group, were we have holdings of over 1.5 million sq ft, including several of our major future projects such as Central Cross and the Saatchi site at 80 Charlotte Street,” Mr. Burns concluded.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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