The City of London Corporation has signed an agreement with Exemplar Properties to redevelop the London Fruit and Wool Exchange site on Brushfield Street in Spitalfields. British Land decided to pull out of partnership talks last year, casting renewed uncertainty on a process that has dragged on for 20 years.
The site, next to Spitalfields market, was built in 1929 and has only been let on a short-term basis since the 1990s, on the grounds that it would shortly be overhauled.
The Exchange could potentially hold a total of 300,000 square feet of retail and office space. London based architects Bennetts Associates, who also have offices in Edinburgh and are experienced in large office developments across the country, will submit planning applications early in the new year. The firm has a reputation for sustainable design and will undertake a consultation process with local residents.
Image: Flickr (AndyRob)