INDUSTRY NEWS

Former Guardian Media Group HQ set ‘to be sold’

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The former London offices of the Guardian Media Group are set to go up for sale, according to an article published by Property Week.

Owner of the property, Biotech Trinity chairman and chief executive officer Ronan O’Caoimh, could be set to secure up to £25 million from any potential deal for the building – although there is a debt, held by the National Asset Management Agency, against the building.

Located at 119 Farringdon Road, the building features 82,000 sq ft of office space.

Mr O’Caoimh previously produced plans to redevelop the property as part of The Wave project, back in 2009.

Designed by HKR Architects, The Wave was set to provide 200,000 sq ft of space – including London office space – aimed specifically at media companies and creative organisations.

However, these plans were eventually rebuffed by the mayor of London, Boris Johnson and the office space at 119 Farringdon Road was subsequently let out to tenants – including Datamonitor, who took up 44,000 sq ft.

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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