INDUSTRY NEWS

New retail and office space for Victoria Street, SW1

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Land Securities’ have now begun the redevelopment of Victoria Street, SW1 , a scheme which will deliver around 200,000 sq ft of premium London office space in Victoria.
 
The start on site follows Westminster City Council’s decision to grant planning consent the week before and is due to complete in late 2012.

The office and retail building will be refurbished, with a new roof among the many new features expected to be built into the property, funding for the development will be around £150 million.
 
The Victoria area will be home of 275,000 sq. Ft of quality office space, shops, restaurants and community space. The area has attracted new companies to the area such as Microsoft, 3i, and Wellington Asset Management.

Robert Noel, Managing Director of Land Securities’ London Portfolio, said: “This is the next step in our master-plan to regenerate this important destination in the heart of the capital. We are using the once in a lifetime opportunity that government downsizing gives us to completely rejuvenate Victoria for residents, businesses and visitors.”

Commercial property news brought to you direct from DeVono Cresa, specialists in London office space.

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