INDUSTRY NEWS

Plans for London office space at old Smithfield market site unveiled

Situated in one of central London’s few undeveloped areas, the historic market site at Smithfield is set to undergo a major overhaul.

Investment management firm Henderson is planning to redevelop the old site into a mixed-used development. It has been earmarked that the site will feature around 230,000 sq ft of London office space, as well as shops and restaurants.

Henderson purchased the buildings from out of administration in 2010. Attempts at redeveloping the site have previously been made. However, they were met by objections, made by English Heritage, who are responsible for managing the country’s historic environment.

However, Henderson has proposed, in its plans, that the external 19th century market buildings remain intact – forming part of the development’s retail and restaurant space.

The plans for the development are set undergo a public consultation in the next week.

Geoff Harris, director of property development at Henderson. told the Financial Times (sic): “It has been about us finding a pragmatic approach to putting these Victorian buildings back into use that doesn’t change the character too much.”

Mr Harris also added that the company has worked with planning authorities from the City of London, in order to create a redevelopment plan that ensures that the area’s historic values are preserved.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.