Rockspring Property Investment Managers and Charterfield Asset Management have secured a resolution to grant planning permission for the redevelopment of Centurion House, EC3, into a new 80,000 sq ft grade A office building.
The David Walker Architects designed scheme in the City of London will see a contractor completely redevelop the site.
The plans include two new ground floor retail units.
The existing building, which was acquired in December last year, was originally built in the mid 1980’s and consists of 61,000 sq ft of outdated office accommodation.
It is hoped the new building will secure a BREEAM Excellent rating.
Strip-out of the building has already commenced, with demolition scheduled to begin in October.
The main construction contract is planned to start early in the New Year, with delivery of the completed building targeted for Q2 2013.
Rockspring fund manager Richard Bains said: “Since acquiring this project last year, we have drawn up ambitious plans to create an entirely new ground up development which will appeal to a wide range of City occupiers.
“Securing this planning resolution will now enable us to deliver the grade A office in the second quarter of 2013, at a time where we see little competition in the market for comparable space.”
Knight Frank and Newton Perkins are the letting agents for Centurion House.