Landsec has been granted planning permission for the redevelopment of 55 Old Broad Street in the City of London.
The developer intends to create a new, mixed-use building offering 270,000 sq ft of Grade A office space and 15,000 sq ft of retail, F&B and cultural space, including new meanwhile artist studios.
The development will be net zero in construction and operation and Landsec intends to retain as much of the existing structure as possible, with many of the recovered materials re-used.
Oliver Knight, head of workplace at Landsec, said: “Demand for modern, sustainable workspace designed with wellbeing in mind is growing and there will be a significant constraint on supply over the coming years as other developers pause projects.
“Alongside modern offices, retail space and greatly improved public realm around the building, this scheme has the opportunity to become a seven-day a week destination – generating long-term value for the City, creating a place where people want to come together to work, create and spend time.”
The development was designed by Fletcher Priest Architects. Savills and Squarebrook are letting agents.
