A 300,000 sq ft tech development opportunity in the heart of London’s Shoreditch is being readied for sale.
The City of London Corporation has appointed Allsop to work up options for the former headquarters of glass merchants Nicholls & Clark at 1 Shoreditch, E1.
The 2.2-acre site, which is made up of three interlinked development opportunities, has been pieced together by the City Corporation over the past 13 years.
Tower Hamlets has already granted planning consent for a possible first phase of the scheme, which includes around 95,000 sq ft of new development on a 135,000 sq ft site.
The City has yet to decide whether the sites, next to Hammerson’s and Ballymore’s Bishopsgate Goods Yard and opposite Brookfield’s Principal Place, will be sold as a single opportunity or in three phases.
Blue-chip developers such as Derwent London, British Land and London & Regional are expected to show interest in the opportunity as they look to capitalise on the area’s burgeoning tech sector.
The City of London Corporation owns the freehold to the site. Developers will be invited to bid for an option on the land.
Formal marketing is expected to start later this autumn.
