Business
Strategic partnership at Old Street Quarter
Derwent London PLC has formed a strategic partnership with Related Argent for the Old Street Quarter EC1 site, expected to be acquired in late-2027. The 2.5-acre central London site has the potential for a substantial mixed-use campus development. The partnership aims to secure planning consent for a mixed-use development, potentially including residential, co-living, student accommodation, office, and hotel spaces. Derwent London intends to maintain flexibility in delivery, considering options like joint ventures, forward funding, and plot sales. Derwent London's commercial real estate portfolio is valued at £5.2 billion as of 30 June 2025. Disclaimer*
About this update from Derwent London Plc
[{"type":"text","content":"\n\n\n\n\n\nDerwent London plc (\"Derwent London\" / \"the Group\")\nStrategic partnership with Related Argent at Old Street Quarter\n\n\n\n\nDerwent London is pleased to announce that it has formed a strategic partnership with Related Argent in relation to the Old Street Quarter EC1 site that it expects to acquire in late-2027. This follows studies undertaken by Derwent London which show that the 2.5-acre central London site has the potential for a substantial mixed-use campus development.\nInitially, the parties will work on delivering a best-in class mixed-use, living-led planning consent for this unique regeneration opportunity. A range of uses is being appraised, including residential, co-living, student accommodation, office and hotel.\n\nThe master planning will be structured in a way that allows Derwent London flexibility of delivery, which in the future may include joint ventures, forward funding and plot sales. \nRelated Argent has an impressive track record in large-scale urban regeneration as a developer, owner and operator. This skill set complements Derwent London's innovative and design-led approach to development. Both parties also have strong and long-standing relationships across a broad range of stakeholders.\nPaul Williams, Chief Executive of Derwent London, said:\n\"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.\"\nTom Goodall, Chief Executive Director at Related Argent, said:\n\"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.\"\n\n\n \nFor further information, please contact:\n\n\n\n\nDerwent London\nTel: +44 (0)20 3478 4217 (Robert Duncan)\n\n\nPaul Williams, Chief Executive\nRichard Dean, Director of Investment\nRobert Dunca...