Renewal of Serviced Office Space in London is Latest in ‘Victoria’s Rivival’
Plans to “revitalise” Victoria have taken yet another step forward as developers submitted their plans for the redevelopment of serviced office space in London – Eland House.
The eleven-storey office block on Bressenden Place is to be redeveloped at a cost of £330m, to a design by Aukett Swanke. As well as increasing serviced office space in London from 24,000 sq m to almost 30,000 sq m within this building, the new design will add a series of roof terraces and a new, more contemporary façade.
Developer Tishman Speyer acquired the building for £170m in January 2012. The building was originally completed in 1998 and has since served as the offices of the Department for Communities and Local Government (DCLG), accommodating around 1,000 office workers. Now Tishman Speyer is looking to move ahead with plans to redevelop the serviced office space in London and take advantage of the improving profile of Victoria.
Speaking to Architects’ Journal, Dan Nicholson, managing director of Tishman Speyer’s London office, described the redevelopment of Eland House as “another important piece of the jigsaw in the revitalisation of Victoria”.
Writing in the Metro earlier this week, Andrea Dean noted the district’s transformation into a desirable, fashionable location for both business and leisure thanks to major developments like Land Securities’ Victoria Circle Scheme and the now completed Cardinal Place. Back in July last year, we also revealed how a number of luxury lifestyle brands had chosen Victoria as the new location for their London offices.
Combined, these developments look set to continue to transform Victoria into a business location which is sought after by leading fashion labels as well as public sector bodies.
According to Tishman Speyer, Victoria is already home to around 800 business tenants, who together occupy approximately 12.7 m sq ft of serviced office space in London. As office to residential conversions look likely to reduce the office stock in popular West End locations like Mayfair and Soho, some businesses will undoubtedly look further afield for their new premises.
With its well-connected transport hub and ongoing transformation into a 21st century business destination, Victoria may be the new address of choice for some.
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