The private Middle Eastern owners of a major mixed-use development next to Amazon’s UK headquarters at Holborn Viaduct, EC1, have put part of the scheme up for sale.
CHIL has appointed DTZ to find a developer to buy and build out the 80,000 sq ft office element of the 213,000 sq ft scheme, which will also feature a 246-bedroom citizenM hotel.
The development, which will replace Citicape House at 61-65 Holborn Viaduct, was approved by the City of London Corporation in 2012.
A shortlist of parties have been approached with the opportunity. It is expected to attract strong interest from developers wishing to capitalise on the expected rejuvenation of the area driven by the opening of the Farringdon Crossrail Station, Goldman Sachs’ 850,000 sq ft HQ and the potential redevelopment of Smithfield Market.
However, the development is likely to be complex given it is opposite City Thameslink Station and the Thameslink tunnel runs under part of the site. The owners are in ongoing negotiations regarding an asset-protection agreement with Network Rail.
Dutch hotel chain citizenM, set up by Mexx founder Rattan Chadha and backed by Dutch pension fund AGP, had hoped to start work on the site in 2013.
