Plans in for change of use for Camden office
Landlord Central Metropolitan Estates has submitted a change of use application for an office block in Camden, which would open the building up to the capital’s increasingly space-hungry educational occupiers.
The application for Academic House, at 24-28 Oval Road, NW1, proposes opening the building up to educational use, as well as its existing permission for office use.
According to planning documents submitted on behalf of Central Metropolitan Estates by planning consultants Iceni Projects, the building has been marketed since October 2022, but “efforts to lease the space have proven unsuccessful”.
Landlord Central Metropolitan Estates has submitted a change of use application for an office block in Camden, which would open the building up to the capital’s increasingly space-hungry educational occupiers.
The application for Academic House, at 24-28 Oval Road, NW1, proposes opening the building up to educational use, as well as its existing permission for office use.
According to planning documents submitted on behalf of Central Metropolitan Estates by planning consultants Iceni Projects, the building has been marketed since October 2022, but “efforts to lease the space have proven unsuccessful”.
The application states the change of use would allow “flexible use of an underutilised office space” and “respond positively to the existing market demands”.
It also includes a letter written by agent Dutch & Dutch, which highlights how changing working patterns have reduced demand for office space, while demand education space has grown, with providers such as UCL attracting large student populations.
If permitted, this change would make an additional 49,514 sq ft available to educational occupiers, among which higher education occupiers have been especially active in the leasing market.
The sector accounted for around 150,000 sq ft of take-up in the capital in 2024, according to research by BNP Paribas Real Estate.
In the same period, the sector’s national take-up was up by roughly a fifth year-on-year and 55.9% above the 10-year average 650,000 sq ft – its highest level since at least 2013, when BNP PRE began keeping records.
BNP PRE’s report said the sector was well-placed to repurpose existing grade-B stock, which it says accounts for more than two-thirds of available space in major UK cities, and takes advantage of competitively priced space in London’s fringe locations.
In the report, Ben Thomson, head of central London tenant representation at BNP PRE, wrote: “We’re seeing growing demand from universities seeking to establish a London presence, particularly in emerging hubs such as Canary Wharf and Stratford. In Canary Wharf alone, 19% of office take-up between 2022 and 2024 was accounted for by education services, highlighting the sector’s increasing influence on the capital’s leasing landscape.”
In January, UCL School of Management expanded its presence at Canary Wharf Group’s One Canada Square, taking roughly 44,500 sq ft in the building to take the educational provider’s presence within the building to almost 100,000 sq ft.
