United House is set to start work on a new six-storey, £9m Shoreditch development at the site of a former public house.
The London group has acquired the site at 66-68 Paul Street and will turn it into 400 sq m of office space over ground and basement levels and eight, one and two-bedroom apartments on the first to fourth floors.
A three-bedroom duplex penthouse will comprise the fifth and sixth floors at the site which occupies a corner plot bounded by Paul Street and Blackall Street in the centre of Shoreditch, tucked away off Great Eastern Street and just 400 metres from Old Street underground station.
United House group chief executive Jeffrey Adams said: “This site is a fantastic commercial to residential development opportunity in the heart of one of London’s most fashionable and well-established districts.
“Just a stone’s throw from the well-known technology hub of ‘The Silicon Roundabout’ at Old Street, this scheme will attract city workers and young professionals who have been waiting for the rare opportunity to buy a new apartment in EC2.”
The project will involve the reconstruction of the front and part of the sides of the public house’s historic façade and demolition of the rear of the existing building to create a stylish new building.
The detailed design is now being progressed by architects Waugh Thistleton with development expected to be completed by late 2012. Prices are expected to start in the region of £500,000 for the residential units.