Planning permission has been granted for the development of new London office space.
Land securities made the announcement that they had received the go-ahead for the project yesterday (October 5).
The development, located at 1 New Street Square, will see three existing buildings replaced with one complex that will provide around 250,000 sq ft of modern office space, as well as space for retail amenities.
Expected to be one of the building’s focal points, it will not only provide office space of a grade A standard, but also offer a fantastic view of the nearby St. Paul’s Cathedral.
Work on the development is expected to commence in 2013 – with a completion date set for 2016.
Head of Development for Land Securities’ London Portfolio, Colette O’Shea stated: “New Street Square has become an important London location and has helped put Midtown on the map.”
Continuing, she added: “1 New Street Square will be a natural extension of the area, making it even more attractive to potential occupiers. It will ring much-needed grade A office space to London in 2016 and help maintain London’s reputation as an attractive place to work.”
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