Mogul Securities are about to start a £20m office village development at 320-336 City Road, London EC1.
The 2 1/2-acre site was bought from Initial Services for £2.25m and Mogul have obtained detailed planning consent for the 134,000-sq ft scheme. The project will compromise 97,000 sq ft in 30 individual buildings ranging from 1,500 sq ft to 5,000 sq ft, the renovation of 320-326 City Road to give 19,500 sq ft and the building of a new 17,500-sq ft block at 330-336 City Road.
Demolition of nos 330-336 has started and the first phase of the scheme, involving the renovation work and 14 small units, will start in January. Some space will be available towards the end of next year.
Mogul will be offering the small village buildings for sale at about £175 per sq ft. More than 60 parking spaces will be available.
Architects for the project are Graham Moss Associates. Debenham Tewson & Chinnocks acted for Initial in the sale of the site and have been retained as selling agents with Smith Melzack.
