Helical and Ashby Capital have acquired a site on the corner of Charterhouse Street and Farringdon Road, EC1, in a 50-50 joint venture, from clients of fund manager Nuveen Real Estate.
The site has existing planning consent for a building designed by Lifschutz Davidson Sandilands comprising 192,000 sq ft of offices and ground-floor retail.
Works will begin later this year, with completion expected in early 2022. The new building will be 100 yards from Farringdon Station.
Gerald Kaye, chief executive of Helical, said: “We are big fans of the Farringdon area, which attracts a broad spectrum of occupiers and benefits from superior transport links.”
Peter Ferrari, chief executive of AshbyCapital, added: “This joint venture builds on the success of One Bartholomew, our 221,000 sq ft building which Helical developed for us and which is already two-thirds let within five months of completion.”
Clive Castle, director of offices at Nuveen, said: “Since our first involvement with this site in 2010, it has been our desire to create an exceptional piece of real estate aligned to where occupier requirements are moving. The location is second to none and it has been our pleasure to work with a talented design team and the City Corporation to work up the scheme.”
CBRE advised Nuveen.
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