Rowan Asset Management has announced plans to extend Aldwych House , WC2, after completing the first phase of a 165,000 sq ft refurbishment.
The company plans to add a 10,000 sq ft top floor to the building and release another 120,000 sq ft of prime office space to the market.
It has already spent £6m renovating the iconic building, having added a modern reception and entrance hall, balconies and atrium, and refurbished the 18,000 sq ft fourth floor.
The new floor will utilise the existing roof gardens and terraces.
Rowan has also submitted a planning application to convert the ground floor of the building to restaurant use with Japanese restaurant Roka lined up as a tenant.
It plans to open in early 2014.
Rowan chief executive Nick Jacobs said: “We are extremely proud of Aldwych House. It is an historic building and we felt huge responsibility to re-shape the building in a way that would does justice to its heritage. We have retained the classic, historic façade while transforming the interior into modern, contemporary and cutting-edge office space to meet occupier demands. The space is serious but fun, is very striking and hopefully will surprise people.”
Rowan acquired Aldwych House in partnership with GI Partners and Taurus in December 2011. Built in 1926, it is one of the largest buildings on Aldwych. Existing tenants include Associated British Ports, Boosey & Hawkes, the LSE, and the law firms Fenwick Elliot and Manches.
The eighth floor has been let to workspace solutions company Nice4Work, which has converted the space into Aldwych Studios, a fully occupied hub of start-up companies that is currently 86% let.
CBRE and Farebrother are joint letting agents for Aldwych House. Rents are not yet quoted but are expected to start at £65 per sq ft.
Jack.Sidders@estatesgazette.com
