INDUSTRY NEWS

Derwent London planning to begin work on new London office space

Commercial property developer Derwent London has revealed that its planning to commence work on three new development projects in the next year.

Amongst these projects are an office scheme in Old Street, dubbed the white collar factory, and two developments comprising a mix of office and residential space on Charlotte Street.

Derwent has already produced a prototype of the Old Street development’s interior, and will begin with its marketing presentations next month (June). It’s expected that the building will provide around 289,000 sq ft of London office space, and that construction will begin on a speculative basis at the start of next year (2014).

Boasting a stripped down interior, the developer has stated that it hopes to meet its targeted build costs of £180/m2.

The plans for the 80 Charlotte Street project entail the part demolition and refurbishment of an office building currently occupied by advertising agency, Saatchi and Saatchi. This particular development, which will provide around 385,000 sq ft of offices and residential property, will be designed by Make.

Derwent’s third project will involve the development of a smaller mixed-use office and residential property at 70 Charlotte Street. This building is expected to provide around 15,000 sq ft.

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