Derwent London has formed a strategic partnership with Related Argent at the Old Street Quarter site in East London.
Derwent London, which is expected to acquire the site in late 2027, has undertaken studies that show the 2.5-acre site has the potential to accommodate a substantial mixed-use campus development.
Initially, the joint venture partners will work on delivering a best-in class, mixed-use, living-led planning consent at the site. A range of uses are being appraised, including residential, co-living, student accommodation, office space and a hotel.
Paul Williams, chief executive of Derwent London, said: “Old Street Quarter represents an exciting regeneration opportunity for one of the few remaining significant island sites in central London. We have actively explored a number of options to ensure we deliver the best possible regeneration and, as part of a competitive tender, Related Argent showcased their extensive experience in master planning this type of large-scale project. I am confident that together we can deliver a planning consent which will maximise the value of the site.”
Tom Goodall, chief executive director at Related Argent, added: “We have long admired Derwent London for their commitment to place and quality of delivery. Together, we will draw on our collective experience leading complex, mixed-use developments to successfully bring forward this site – propelled by a shared ambition to bring long-term value to London.”
