Viridis Real Estate has appointed DTZ and Knight Frank as joint leasing and development advisers on 119 Farringdon Road, EC1, the former Guardian HQ.
Viridis, the real estate vehicle of a member of the Saudi Jameel family, paid around £29m for the City fringe development opportunity in July.
The 78,000 sq ft office block had consent for conversion to 118 flats and 20,000 sq ft of commercial space, which has now lapsed.
The building is multilet to tenants including Datamonitor and Alexander McQueen, and generates an annual rent of £820,000. Vacant possession is achievable by March 2014.
Viridis now plans to develop a “landmark office building” on the site, designed to tap into the demand expected to be unleashed by the Crossrail station that is being built nearby.
Viridis development manager Tim Downes said: “We are tremendously excited at the prospect of breathing new life into this dynamic location. The advent of Crossrail means that Farringdon will become London’s most connected destination and take it to the next level.
“In DTZ and Knight Frank, we are confident we have two agency firms with a clear understanding of the rapidly changing occupier market, and which will be invaluable to the design process.”
jack.sidders@estatesgazette.com
