Land Securities gain planning permission for London office space.
New London office development receives planning permission.
Land Securities has had its recent plans for a new city office scheme approved. The City of London council gave the project, that will create 375,000 square feet, the go ahead. The development will be carried out at 30 Old Bailey and 60 Ludgate Hill.
Once completed the project will be a mixed use development spaced across two buildings and will replace the 1960s office properties that are currently in their place. The new properties will consist of high quality office space, retail outlets, restaurants, public areas and improved pedestrian links.
“We were the first to re-start a major development programme after the downturn anticipating supply constrained conditions and this is the latest part of our clear plan to deliver over two million sq ft of new space by April 2014,” commented head of development for the Land Securities’ London portfolio, Colette O’Shea.
The 60 Ludgate Hill has been designed by London based architects Fletcher Priest. The offices themselves will be located throughout the 1st to 9th floors. The 9th floor will also feature a prove outdoor terrace with exquisite views of St Paul’s Cathedral.
The properties are expected to be completed by late 2013. It is expected that the space will be leased quickly as there are not any other current developments due to be completed at this time.