Business
Planning permission
Planning permission.
About this update from Derwent London Plc
[{"type":"text","content":"\n Derwent London PLC\n13 February 2008\n\n PRESS RELEASE\n\nPRESS RELEASE\n13 February 2008\n\n\n Derwent London plc ('Derwent London'/ 'Company')\n\n\n DERWENT london SECURES PLANNING FOR MAJOR 255,000 SQ FT REFURBISHMENT OF ANGEL\n CENTRE, EC1\n\n\nDerwent London, one of London's most dynamic and innovative property investors\nand developers, has secured planning permission from Islington Borough Council\nfor the 255,000 sq ft net (23,690 sq m) office refurbishment of the Angel\nCentre, London, EC1. The property is the first building from the London Merchant\nSecurities' ('LMS') portfolio to be refurbished by Derwent London after its\nmerger in February 2007.\n\nSituated on the corner of Pentonville Road and St. John Street and immediately\nsouth of Angel Tube station, the building is just a short walk from Kings Cross\nand the newly opened St Pancras Eurostar terminal. This major refurbishment will\nbring stylish office accommodation to this rapidly expanding and vibrant part of\nLondon.\n\nThe new scheme will add c. 93,000 sq ft net (8,640 sq m) to the original\nbuilding, which was developed by LMS in 1984, by infilling the large external\ncourtyard with a spectacular atrium and expanding the skin of the building with\na new steel and glass facade. A newly landscaped public space will be created on\nSt. John Street with restaurants and retail space, bringing additional vitality\nat street level.\n\nAllford Hall Monaghan Morris ('AHMM'), the architects who transformed Derwent\nLondon's Johnson Building in Hatton Garden, has been appointed on the scheme.\nSimilar green energy features used there will also feature at Angel, with\ndisplacement air conditioning and smart lighting. AHMM have created a design\nwhich will drive significant natural light into the building through three metre\nwindows and galleried floors which look out onto the central atrium. The six\nstorey building has floorplates of c. 50,000 sq ft (4,650 sq m) which will offer\nflexibility for either single or multiple tenants.\n\nEnabling works on the building are expected to begin in spring 2008 with\ncompletion planned for early 2010. Whilst Derwent London has possession of the\nbuilding, it will continue to generate an income of £4.2 million per annum until\nMarch 2010.\n\nSimon Silver, Head of Development at Derwent London, commented:\n\n\n'We are very ex...