Beltane Asset Management has secured planning consent for the retrofit of the Fitzroy House office building in London’s Fitzrovia.
Beltane purchased the freehold site in September 2024 alongside TPG Angelo Gordon.
Designed by Ben Adams Architects, the dual aspect property, which has entrances on Warren Street and Euston Road, will provide nearly 45,000 sq ft of workspace across five floors in addition to private and shared roof terraces and an internal courtyard.
The building’s structure and cores will be retained and the character of the building’s outer envelope will be brought inline with the historic neighbouring buildings.
Duncan Roe, founding partner at Beltane Asset Management, said: “Fitzroy House underpins our strategy of investing in Central London real estate where significant value can be created through intelligent asset management. Through a sensitive retrofit approach and improvements to its roof terraces and internal courtyard, we have confidence that the building can once again become a desirable place to work, in an excellently connected area.
“To have received swift, full support from the London Borough of Camden, well within their targeted eight-week timeframe, is testament to their recognition of Fitzroy House’s potential.”
Patrick Hammond, associate director and head of design development at Ben Adams Architects, added: “45 Warren Street is currently a significant, yet unremarkable building that is not fulfilling its potential as an office fit for modern working needs.nWe worked collaboratively with Camden Council on a design that brings visual interest, activates the façade, increases permeability, and allows us to develop the site sensitively.
“By improving the appearance of the existing building and reorientating the main entrance to Warren Street, we hope Fitzroy House will better respond to its context and positively contribute to its locality.”
Almira is providing consultancy services to the joint venture and financing has been secured from DRC Capital. RDM Capital acted as sole arranger of finance between TPG Angelo Gordon, Beltane Asset Management and DRC.
