INDUSTRY NEWS

Trio battle it out to re-develop Saatchi & Saatchi’s London office

Three heavyweight construction firms are battling out for the £100m redevelopment of Saatchi & Saatchi’s London office.

Construction News has reported that Bam Construct, Brookfield Multiplex and Mace are all hoping to clinch the deal on renovation work at the building located on Charlotte Street, Fitzrovia.

The Saatchi & Saatchi office is set to be part demolished and rebuilt to develop around 323,000 sq ft of London office space, as well as 55 new homes.

The advertising agency has been based at its West End London office since the 1970’s.

The firm was responsible for a number of widely known marketing campaigns, including the Carlsberg ‘Probably the best lager in the world’ ads.

It will be vacating the building in March – creating a rush from the three heavyweight contractors to outmuscle each other and seal a deal on the much sought after job.

The work is all part of property developer, Derwent London’s, plans to revamp the area.

Interestingly, when a planning application was first put in, back in May 2011, it was rejected by Camden Council.

However, the Mayor of London, Boris Johnson, stepped in later that year – greenlighting work in the September.

Aside from the main office itself, a three-storey residential block is also set to be built at the same time at 14 Charlotte Mews, as well as 12,000 sq ft of offices and 36,000 sq ft of residential space on a separate location.

Derwent is an office regenerator and investment group based in the capital. The firm has an investment portfolio of 5.3m sq ft worth around £2.7bn.

Work is expected to be completed by the end of 2016.

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