Planning permission has been granted for the redevelopment on One Angel Court which will give the City’s banking conservation area revitilisation.
According to a leading London office space company, TIAA-CREF has obtained the permission at the tower block which is located between the Bank of England and other new office buildings in the area.
Anthony J. Butler, Director, Real Estate Investment Management, TIAA-CREF Asset Management UK said: “This is a significant achievement resulting from two years of work in consultation with the City of London that will bring much needed additional Grade A office space in a revitalised work environment featuring increased retail, restaurant and public space.
“We believe in adopting best practices in respect to sustainability. We have incorporated significant sustainability goals into this project, reflecting our desire to decrease our environmental footprint, help lower occupational energy costs and add value for clients.”
The refurbishment will mean that there will now be approximately 50 per cent more space for lettings bringing the sq ft measurements to 300,000ft.
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